In a recently handed down decision of Re Kirkland Intertrade Corp (BVIHCM 2019/0149), the BVI Commercial
Court has confirmed that the BVI Arbitration Act 2013 (the
"Arbitration
Act") does not require
an award made by a foreign Arbitration Tribunal to be registered in
the BVI before the award creditor can proceed with an application
to wind up. The decision of the Privy Council (on appeal from the
BVI) in Vendort Traders Inc v
Evrostroy Grupp LLC [2016] UKPC
15 which dealt with the position prior to the coming into force of
the Arbitration Act 2013, therefore remains good law.
The application to wind up Kirkland Intertrade Corp
("Kirkland") was made on the basis of a
debt created by a partial final award (the
"Award") made in an arbitration between
(inter alios) the Applicant, Daselina Investments Ltd
("Daselina") and Kirkland before the
London Court of International Arbitration
("LCIA"). Under the terms of the Award,
Kirkland was liable to pay Daselina US$26
