News & Analysis as of

BVI Business Companies

Joint accounts - The new shield? - A case review on One Investment and Consultancy Limited and another v Cham Poh Meng (DBS Bank...

by Dentons on

Although the sum involved was small, the High Court’s decision in One Investment and Consultancy Limited and another v Cham Poh Meng (DBS Bank Ltd, garnishee) [2016] SGHC 208 is one which would have a great impact in the area...more

Russian 'Corporate Raid' to be Dealt with by English Arbitral Tribunal

by Bryan Cave on

Egiazaryan and Gogokhiya v OJSC OEK Finance and The City of Moscow [2015] EWHC 3532 (Comm) - The Arbitration Act 1996 allows a party to an arbitration with an English seat to appeal a decision on jurisdiction made by the...more

Court Of Appeals Affirms Business Court Award Of $1 Million In Fees To Class Counsel

by Brooks Pierce on

It seems like forever ago that the then venerable North Carolina institution, Wachovia Bank, failed and was acquired by Wells Fargo. (This was actually seven years ago). But just last week came what might be the final...more

Red Notice Newsletter - August 2015

Welcome to the August 2015 edition of Red Notice, a publication of Akin Gump Strauss Hauer & Feld LLP. This month on the anticorruption front, the U.S. Department of Justice (DOJ) and the U.S. Securities and Exchange...more

Brazil, bribes and backward tracing – only in Jersey

by Reed Smith on

The Municipality of Sao Paulo and the Republic of Brazil successfully defeated an appeal from two BVI registered companies to the Privy Council which considered what the circumstances are, if any, where backward tracing would...more

"Restructuring Offshore PRC Debt"

As the growth of the Chinese economy (and the real estate sector in particular) slows, we are seeing stress in an increasing number of issuers of offshore noninvestment-grade People’s Republic of China (PRC) bonds. It seems...more

BVI FATCA Compliance Deadlines Extended

by Foley Hoag LLP on

This week the British Virgin Islands (BVI) announced the extension of its FATCA registration and reporting deadlines, as follows...more

Banker Settles with SEC for Role in Olympus Scandal

The Securities and Exchange Commission agreed to a settlement with Hajime Sagawa related to his alleged role as the principal and minority owner of a broker-dealer that assisted Japan based Olympus Corporation in its...more

Second Circuit Denies Petition for En Banc Review of Fairfield Decision

On January 13, 2015, the U.S. Court of Appeals for the Second Circuit denied a petition for en banc review of the Second Circuit’s September 2014 panel decision holding that bankruptcy courts are required to review the...more

Rehearing Petition Dramatizes Second Circuit's Comity Rejection

by Goodwin on

Recognition of a foreign main proceeding under Chapter 15 of the Bankruptcy Code has “effects” under Section 1520 that are automatic and powerful, including application of the automatic stay of Section 362 and the...more

Monkey Selfie Redux

When we last examined the intellectual property issues raised by a self-portrait taken by a talented female Indonesian crested black macaque—popularly known as the “Monkey Selfie”—we concluded that there was unlikely to be...more

Second Circuit Fails to See the Comity in Chapter 15

by Goodwin on

In Krys v. Farnum Place, the Second Circuit ruled that, in a Chapter 15 ancillary proceeding, a SIPA claim is within the territorial jurisdiction of the United States and its sale by the Foreign Representative must be...more

Export Controls in UK Offshore Centers

by Miller Canfield on

Many private equity and investment funds are organized as limited partnerships or companies of offshore entities. Similarly, companies may structure mergers and acquisitions by utilizing offshore holding entities. The British...more

BVI Company In Trouble Over Plans to Ship Engines to Iran

by Baker Donelson on

We usually don’t post enforcement summaries. However, I wanted to insure everyone was aware that the United States government is really going after non-U.S. entities. Please see below. Note it is the Commerce Department not...more

Jersey, Bermuda and the British Virgin Islands now included to the list of Non-Cooperative States

by White & Case LLP on

The list of Non-Cooperative States has been expanded to include Jersey, Bermuda and the British Virgin Islands. As from 1 January 2014, sums paid into these states are subject to a withholding at the source of 75% and are no...more

Australian Securities & Investment Commission In The Matter Of Northwest Resources Limited V Craigside Company Limited BVI Company...

by DLA Piper on

This case, Australian Securities & Investment Commission (ASIC) in the matter of Northwest Resources Limited v Craigside Company Limited BVI company number 74124 named in the Schedule [2013] FCA 201 considered when it is...more

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