British Virgin Islands: Insolvency/Bankruptcy

Restoration applications are nothing new in the BVI. With hundreds of thousands of active companies and many more struck off due to administrative oversight...

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

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.

Following a recent consultation by the BVI FSC and insolvency practitioners, the BVI has expanded its statutory assistance regime to an additional 24 jurisdictions.

This decision relates to an appeal to the Privy Council out of the British Virgin Islands dealing with the question of staying winding up proceedings where there is an agreement to arbitrate.

In our British Virgin Islands office, our most popular posts and publications ranged from practical advice on doing business in the jurisdiction through to sanctions on the global stage, ...

In a paper published by INSOL International, we cover cross-border investigations by IPs and restructuring advisors and showcase the legal framework across the BVI, Cayman Islands, Hong Kong, Singapore and the U.S.

With commercial property companies' debt burdens reaching pre-2008 levels and warnings being issued this month by the European Central Bank....