A Guide To Appointing Liquidators Over A BVI Company

This article by David Harby and Nia Statham provides a useful summary of the rules and procedures that are to be followed and is likely to be of interest to liquidators, creditors and debtors of insolvent BVI companies.

Generally speaking, appointing liquidators over a company in the British Virgin Islands can be achieved by either:

1. the company's members resolving to appoint a liquidator by way of a qualifying resolution (i.e. passed by 75% of the company's members at a properly constituted meeting or higher if required by the company's Memorandum & Articles);¹ or
2. the Court appointing the Official Receiver or an eligible insolvency practitioner as a liquidator of a BVI company or a foreign company pursuant to an application made under sections 162 or 163 of the Insolvency Act, 2003 (the "Act") respectively.