BVI Companies and M&A
Economic Substance: Practical Advice 3 Years On …
10 Things Lawyers Should Know About BVI Transactions
The British Virgin Island (BVI) Court will enforce via BVI Court judgments amounts due under judgments arising out of foreign insolvency processes, provided those judgments satisfy the common law tests of finality,...more
Prior regulatory approval is now required for MLRO appointments – previously it was a notification requirement that had to be submitted within 14 days of the MLRO appointment. Firms in scope will now need to factor in...more
Where a debt is due under an agreement (and assuming there is no binding non-petition clause in effect), it is possible to take steps to wind up the company without first proceeding to arbitration, in accordance with the...more
In its recent judgment in Tristan Oil Ltd v The Scheme Creditors (BVIHCM 2023/0120) the BVI Commercial Court (the Hon. Justice Paul Webster (Ag.)) has considered the question of when a party not bound by a scheme of...more
The gravity of any arbitration award lies in its successful enforcement. The enforcement process may be frustrated and produce little result if the winning party does not identify at the outset the assets against which the...more
In order for a foreign judgment to be enforced in the BVI, it must either be: (1) registered and recognised as enforceable under the Reciprocal Enforcement of Judgments Act 1922 (the “1922 Act); or (2) enforceable under the...more
The updated Civil Procedure Rules (the “Revised CPR”) come into force on 31 July 2023, and with them a substantially increased focus on settlement and Alternative Dispute Resolution (“ADR”). In this article, Senior Associate...more
It is standard practice for lenders in financing transactions to request legal opinions from counsel in each jurisdiction in which a transaction entity is established or under which law transaction documents are governed. Set...more
As the use of arbitration as a means of dispute resolution has grown in popularity, there has been a marked increase in the need for arbitral awards to be recognised and enforced in offshore jurisdictions. The...more
Inflationary pressures and increasing interest rates are expected to continue to have a negative impact on the global economy during 2023. In this article we consider restructuring options under BVI law available to companies...more
It is well established, under common law principles applicable in the Cayman Islands and the British Virgin Islands that claims for payment of foreign tax liabilities, or claims for the enforcement of foreign judgments for...more