Harney Westwood & Riegels

Privy Council rules on Fairfield

On 16 April 2014, the Privy Council ruled in the claims brought by the liquidators of Fairfield, one of the largest feeder funds into Bernard Madoff’s investment company. The BVI Commercial Court and the Eastern Caribbean…more

| Bankruptcy, Civil Procedure, Commercial Law & Contracts, Finance &...

New Cyprus decrees issued for 31 March to 4 May, 2014

The Republic of Cyprus has issued new decrees pertaining to the relaxation of restrictive measures which are in force from 31 March to 4 May, 2014. Legal updates regarding these decrees, from Harneys' Cyprus Banking Group, are…more

| Commercial Law & Contracts, Finance & Banking, International Law & Trade

BVI court ruling highlights potential risk in some standard form M&As

On 19 March 2014 the Commercial Court handed down its ruling in C v W Inc (BVIHC (Com) 2013/149). In that case a shareholder holding more than 30 per cent of the company’s shares tried to exercise its power to requisition a…more

| Business Organizations, Commercial Law & Contracts, Mergers &...

BVI concludes negotiations with US on FATCA

The British Virgin Islands Government has today announced the conclusion of negotiations with the United States on a Model 1 Intergovernmental Agreement (IGA) under the US Foreign Account Tax Compliance Act (FATCA)…more

| Finance & Banking, International Law & Trade, Taxation

Islamic finance: From the Cayman Islands to the Middle East and beyond

Benefits of using a Cayman SPV in Islamic financing - There are numerous reasons for Cayman’s popularity among Islamic investors. As a British Overseas Protectorate, Cayman is politically stable and its laws are based on…more

| Commercial Law & Contracts, Finance & Banking, International Law & Trade

The BVI Commercial Court – interfacing with arbitration

Recent decisions in the BVI Commercial Court have shaped the applicability and enforcement of arbitration clauses and, notably, how they interface with BVI statutory remedies and liquidations. Standing to…more

| Alternative Dispute Resolution (ADR), Civil Procedure, Civil Remedies,...

New Cyprus decrees in force until 30 March 2014

The Republic of Cyprus has issued new decrees pertaining to the relaxation of restrictive measures which are in force until 30 March. Legal updates regarding these decrees, from Harneys' Cyprus Banking Group, are below…more

| Finance & Banking, International Law & Trade

Bank of Cyprus issues two milestone decisions

On January 30 2014 the board of directors of the Bank of Cyprus Public Company Ltd approved two important decisions, thereby meeting the expectations of its depositors and the general public in Cyprus for enhancing liquidity in…more

| Finance & Banking, International Law & Trade

Increased supervision of BVI Real Estate Agents by the FIA

The BVI Financial Investigation Agency (FIA) is presently reviewing the compliance arrangements of real estate agents throughout the jurisdiction to ensure they meet the requirements of the British Virgin Islands’ (BVI)…more

| Criminal Law, Finance & Banking, Real Estate - Residential, Real Estate...

The British Virgin Islands and Investment Funds

This guide provides an overview of the various investment fund vehicles available in the British Virgin Islands (BVI). It concentrates on regulated investment funds and, in particular, hedge funds, since these constitute a large…more

| Finance & Banking, International Law & Trade

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