British Virgin Islands: Insolvency/Bankruptcy

Restructuring & Insolvency Comparative Guide for the jurisdiction of British Virgin Islands, check out our comparative guides section to compare across multiple countries

The British Virgin Islands has, as of 18 September 2024, extended the list of ‘Relevant Foreign Countries' for the purposes of Part XIX of the BVI Insolvency Act, which governs Orders in Aid of Foreign Proceedings.

Resulting from the recent uptick in British Virgin Islands ("BVI") schemes and plans of arrangement, the BVI Commercial Court has issued what is thought...

Restructuring & Insolvency Comparative Guide for the jurisdiction of British Virgin Islands, check out our comparative guides section to compare across multiple countries

On January 21, 2025, the Court of Appeal in England in Valeriy Ernestovich Drelle v Servis-Terminal LLC (Drelle) ruled that a debt based on a foreign judgment that has not been recognised in England cannot be used to found an application for a bankruptcy order

This guide explores the latest legislative, regulatory and enforcement developments in the British Virgin Islands and provides expert analysis on industry-wide topics including the local legal framework, the main stages of a fraud case, parallel proceedings, cross-jurisdictional mechanisms, recent developments, technology and other impacting factors.