ARTICLE · 17 MAY 2017

BVI Adopts Guidelines For Communication And Cooperation Between Courts

Harneys

The BVI today adopted new guidelines for communication and cooperation between courts in cross-border insolvency matters.

British Virgin IslandsInsolvency/Bankruptcy/Re-Structuring

Phillip Kite

Ian Mann

Andrew Thorp

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The BVI today adopted new guidelines for communication and cooperation between courts in cross-border insolvency matters.

The initiative, which was the result of work by the Judicial Insolvency Network¹, has proved very popular. The BVI is the latest key commercial jurisdiction to adopt the guidelines this year, joining New York, Delaware, Hong Kong, Singapore and Bermuda. It is very likely that others will shortly follow suit.

What do the guidelines seek to achieve?

The guidelines are designed primarily to enhance communication between courts, insolvency representatives and other parties in the context of global restructurings and insolvency. As a result of the increased efficiency, it is hoped that stakeholders will see a reduction in delay and cost.

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BVI Adopts Guidelines For Communication And Cooperation Between Courts

What do the guidelines seek to achieve?

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