News & Analysis as of August 22, 2025

British Virgin Islands

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Recognition with Consequences: Singapore's Terraform Ruling and its Implications for the BVI

Conyers on 8/7/2025

On 11 July 2025, the Singapore International Commercial Court (SICC) in Re Terraform Labs Pte Ltd [2025] SGHC (I) 4 ordered a group of creditors to pay costs to the insolvent estate of blockchain company Terraform Labs. The...more

Clarity in Singapore: How COMI Is Determined Under the UNCITRAL Model Law on Cross-Border Insolvency

Jones Day on 8/5/2025

In re Fullerton Capital Ltd [2025] SGCA 11, a BVI-incorporated company entered into insolvency proceedings in the British Virgin Islands ("BVI"). The liquidators sought recognition of the BVI liquidation as a "foreign main...more

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Recognition with Consequences: Singapore's Terraform Ruling and its Implications for the BVI

Clarity in Singapore: How COMI Is Determined Under the UNCITRAL Model Law on Cross-Border Insolvency

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