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ARTICLE · 02 FEBRUARY 2026

Back To Basics - Disputes Series

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In many jurisdictions, statutory schemes exist to marry those two concepts together and provide a complete package by which assistance in foreign insolvency proceedings is rendered. In the BVI, things are less straightforward as (i) the BVI has not adopted the UNCITRAL Model Law on Cross-Border Insolvency and (ii) Part XVIII of the BVI Insolvency Act 2003 (Cross-Border Insolvency), based on the Model Law, has not come into effect.

British Virgin IslandsInsolvency/Bankruptcy/Re-Structuring
Olwyn Barry
Olwyn Barry
Tamara Cameron
Tamara Cameron
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Foreign Officeholders in the British Virgin Islands – Recognition or Assistance?

  • In the context of cross-border insolvency, it is important to distinguish between the two concepts:
    • "Recognition", being the formal act of the BVI court recognising a foreign representative as having status in the BVI; and​​​
    • "Assistance" from the BVI Court which grants power to the foreign representative​​​ to actually deal with BVI assets and access to a wide range of statutory relief.
  • In many jurisdictions, statutory schemes exist to marry those two concepts together and provide a complete package by which assistance in foreign insolvency proceedings is rendered. In the BVI, things are less straightforward as (i) the BVI has not adopted the UNCITRAL Model Law on Cross-Border Insolvency and (ii) Part XVIII of the BVI Insolvency Act 2003 (Cross-Border Insolvency), based on the Model Law, has not come into effect.

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