In response to the turbulent economic times seen of late, there has been a significant growth in the use of schemes of arrangement to compromise creditors’ claims where the company in question is facing financial...more
A provision in the Cayman Islands Companies Law (2013 Revision) (the Law) affords the Grand Court (the Court) the power to appoint “one or more competent inspectors to examine into the affairs of any company (incorporated in...more
Arbitrability is a question of considerable importance – it is the question of whether a particular issue in dispute is capable of being resolved by arbitration as opposed to litigation – and is therefore a question of...more
In this article, we will discuss some of the tools available to a party in the British Virgin Islands (BVI) to seek to recover property, or proceeds of property, which have been misappropriated. It is not surprising that in...more
On 21 January 2015 the Privy Council handed down its decision in Nilon Limited v Royal Westminster Investments SA  UKPC 2 clarifying the power of the courts to rectify the share register of a BVI company under section...more
In this guide Harneys considers the role and function of a liquidation committee appointed under the Cayman Islands’ Companies Winding Up Rules.
A vital component in the liquidation of a Cayman Islands company is the...more
In this guide Harneys considers the scope of a party’s duties with respect to the discovery of documents in Cayman Islands litigation.
"Discovery", the process by which documents that are relevant to the issues raised...more
In this guide Harneys considers the scope of the Cayman Islands’ Confidential Relationships (Preservation) Law and the sanctions that apply to contraventions of it.
The Cayman Islands government considers the...more
Because BVI companies are widely used in Hong Kong for various purposes, it important for clients to understand the nuances and intricacies of obtaining grants of probate and administration in the BVI. Contrary to popular...more
Below is a summary of recent cases out of the British Virgin Islands (BVI) Commercial Court, compiled by Harneys’ Litigation team.
Ruling on the use and status of ancillary relief proceedings and forum non conveniens...more
Derivative Actions Defined -
A derivative action occurs where a member of a company, usually a minority shareholder, pursues a cause of action on behalf of the company. S184(c) of the BVI Business Companies Act 2004...more
British Virgin Island (“BVI”) and Cayman Islands companies have been a popular choice of investment vehicle for Hong Kong and Chinese companies and individuals. This article explores the key tools available to members of BVI...more
We are reminded that shareholders of BVI holding companies may well have to look to the BVI Court to resolve unfair prejudice claims in seeking a buy-out order or other relief....more