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ARTICLE · 09 JUNE 2015

A New Dawn In BVI Dispute Resolution

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The BVI has a modern, sophisticated, well respected legal system, based on English common law, which makes it well placed to accommodate disputes involving BVI entities.

British Virgin IslandsLitigation, Mediation & Arbitration
Niki Olympitis
Niki Olympitis
Sara-Jane Knock
Sara-Jane Knock
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The BVI has a modern, sophisticated, well respected legal system, based on English common law, which makes it well placed to accommodate disputes involving BVI entities. The dispute resolution capabilities of the BVI have been recently enhanced by the coming into force on 1 October 2014, of the new Arbitration Act, replacing the outdated Arbitration Ordinance of 1976. In addition, the BVI is established as a leader in the global financial services industry. With over 450,000 active incorporated companies, many involved in international trade and commerce, it is the world's foremost offshore corporate domicile.

The BVI recently became a signatory to the New York Convention, a key instrument in international arbitration, which allows for the reciprocal enforcement of arbitral awards in 150 New York Convention signatory countries. For the first time therefore, BVI awards are capable of enforcement throughout the financial world.

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