Clients often ask what they can do to trace and recover assets that are owned or held in BVI entities.
The short answer to this is that since the BVI’s legal system is rooted in the English system, more often than not the remedies are broadly the same.
In connection with civil claims and on the assumption that BVI jurisdiction can be established as a prerequisite, the BVI Court is able to grant a variety of interim and final remedies to trace and preserve assets and documentation, obtain evidence and allow recovery to ensue.
Additional powers have also been created by the Territory’s own legislation:
- The Inspector of Banks and Trust Companies is able to demand access to certain books and records and, in certain circumstances and can disclose these as well as other information to overseas regulators, courts and third parties;
