The BVI Court of Appeal recently handed down an important
decision in relation to the power of the Court to grant injunctive
relief in support of foreign arbitral proceedings, and as to the
territorial jurisdiction of the Court over former BVI companies
that have sought to escape the jurisdiction of the Court.
On 17 January 2019, the Court of Appeal of the Eastern Caribbean
Supreme Court (the Court of Appeal) handed down an
important decision which clarifies the extent of the Court’s
powers to act in aid of foreign arbitral proceedings.
The facts in Koshigi v. Donna Union Foundation BVIHCMAPP
50/2018 can be shortly stated. Donna Union Foundation
(DUF) had the benefit of a substantial award of
the London Court of International Arbitration (the
LCIA) against Svoboda Corporation
(Svoboda) and Koshigi Limited
(Koshigi). Together, Svoboda and Koshigi (the
KS Shareholders) were ordered to acquire
DUF’s shareholding in a Maltese vehicle, Ulmart Holding
Limited (UHL) for
