British Virgin Islands
In response to global OECD base erosion and profit shifting standards regarding geographically mobile activities, the British Virgin Islands (the "BVI")...
Statutory demands in the British Virgin Islands have long been a useful option for creditors of defaulting companies.
In February 2020 the British Virgin Islands Commercial Court sanctioned a creditor scheme of arrangement, which was part of a much larger cross boarder restructuring.
This country-specific Q&A provides an overview to restructuring & insolvency laws and regulations that may occur in the British Virgin Islands.
A company incorporated in the British Virgin Islands (the "BVI") can be placed into insolvent liquidation either by: a shareholders' qualifying resolution; or a court order, following an application to the court...
Restructuring & Insolvency Comparative Guide for the jurisdiction of British Virgin Islands, check out our comparative guides section to compare across multiple countries
What are the repercussions, if any, of a respondent's failure to challenge a statutory demand in respect to its ability to oppose a subsequent winding up petition?
The British Virgin Islands (BVI) instigated entry restrictions for all visitors in mid-March and is currently operating a full lockdown system for all residents, apart from essential workers.
Ogier has successfully represented the applicants in a BVI scheme of arrangement for a debt restructuring, as part of a $1.5 billion global restructuring, demonstrating the ability of our transactional and dispute...
Bedell Cristin Cayman Partnership
The Judicial Committee of the Privy Council (the ‘Privy Council') delivered its decision in the latest round of Madoff litigation on 20 May 2019.
As a major incorporation jurisdiction, the issue of shadow directorships is an important and practical one for the BVI. There are 3 types of company director recognised by BVI law:
The BVI High Court, Commercial Division has, in a first for the jurisdiction, appointed "light-touch" joint provisional liquidators ("RPLs")
The BVI Commercial Court today handed down a landmark judgment appointing ‘soft touch' provisional liquidators.
In October 2016, the Liquidators sought leave to amend their complaints filed in the U.S. Redeemer Actions.
In the January 2018 edition of our dispute resolution and insolvency bulletin, we review eight cases from the BVI Commercial Court and BVI Court of Appeal from the past year.
In the January 2018 edition of our dispute resolution and insolvency bulletin...
Harneys partner Andrew Thorp and senior associate Mark Rowlands contributed "British Virgin Islands: Restructuring & Insolvency" in The In-House Lawyers, Restructuring & Insolvency Country Comparative Guide.
BVI law is a mixture of statute and common law. The principal statute governing corporate and personal insolvency in the BVI is the Insolvency Act 2003, which is supported by the regulations...
A British Virgin Islands court has sanctioned a liquidator's application for a blended fee remuneration, including a percentage of revenue from assets sold...
Tucked away in dusty corners of the Insolvency Act 2003 are two slightly obscure provisions: sections 251 and 257.