The British Virgin Islands (BVI) has gone "all in" to
establish itself as a leading venue for international arbitrations,
riding the current wave of popularity for resolving international
commercial disputes through arbitration. The BVI has enacted a new,
modern arbitration statute and established a dedicated arbitration
centre, offering bespoke arbitration rules; a hand-picked panel of
experienced arbitrators; 'concierge' services for visiting
arbitration participants; and a bi-annual international arbitration
conference.
Now the BVI's regional rivals, Bermuda and the Cayman
Islands, are attempting to get in on the act, with both territories
announcing an intention to open dedicated arbitration facilities to
assist their efforts to establish themselves as jurisdictions of
choice for international arbitrations.
