BVI Case Law Update

In the recent judgment in Wang Wenwei v SPQR Limited Partnership, the BVI Commercial Court considered the novel issue of whether the Court has power to appoint provisional liquidators over a BVI Limited Partnership under the Limited Partnerships Act 2017.

The Court emphatically concluded that it had no such power – a provisional liquidator is a creature of statute and absent an express power in legislation, such as that contained in s. 170 of the Insolvency Act, the Court cannot appoint a provisional liquidator over a limited partnership.

The Court also noted that even if jurisdiction had been established, the threshold for the appointment of provisional liquidators had not been met in the case.