On 22 January 2025, the Honourable Justice Abbas Mithani, sitting in the BVI Commercial Court, granted the jurisdiction’s first recorded personal bankruptcy orders, appointing trustees in bankruptcy to the estates of Mr Carson Wen and Ms Julia Yuet Shan Fung. The trustees in bankruptcy are appointed to take possession of the respective estates, including all the assets belonging to or vested in the bankrupts. The trustees in bankruptcy are Mr James Drury of Interpath BVI and Mr Michael Leeds of Interpath London.
The application was brought by Mr Chad Holm, following related BVI proceedings where the debt arose after the respondents' unsuccessful appeal to the Privy Council, the final appellate court for the BVI. Walkers represented Mr Holm in those proceedings, where he succeeded at trial, on appeal, and before the Privy Council.
One notable aspect of the case is that the bankrupts are not resident in the BVI. This demonstrates the jurisdiction of the BVI Courts to grant bankruptcy orders which extends to persons who are non-resident but have assets or appear to have assets within the BVI.
Our Insolvency & Dispute Resolution team consisted of Oliver Clifton, John Crook, Colleen Farrington, Harry Oulton and Yegâne Güley for the applicant.