Receiverships In The BVI

Receiverships in the BVI

There have been an increasing number of court applications in the British Virgin Islands (BVI) for the appointment of receivers an as interim remedy to 'hold the ring' in respect of assets which are the subject of ongoing litigation and in aid of equitable execution of judgments. Carey Olsen partners Jeremy Lightfoot and James Noble and senior associate Dhanshuklal Vekaria examine the BVI Court's approach to granting the appointment of receivers and the state of the law in respect of this powerful interim remedy.

Receivers

The appointment of receivers is more commonly used as a remedy by which a secured creditor can enforce its security against assets of a company that is in financial difficulty or in breach of a debt obligation.