Caribbean Two-step? – Update On Norwich Pharmacal Relief Against BVI Registered Agents

In a recent judgment, CIF v (1) DLG and (2) GIY (BVIHCM2023/0050) the BVI Commercial Court (the Hon. Justice Gerhard Wallbank) has provided guidance on the procedure which it expects to be followed by applicants seeking a Norwich Pharmacal order compelling a third party to provide disclosure.

A BVI company is required to have a licensed registered agent within the BVI which provides corporate services, including, but not limited to, keeping the company's statutory records, details of the company's ultimate beneficial owners and the documents required to satisfy the requirements of the BVI's AML laws. As a result, BVI registered agents are often the target of Norwich Pharmacal applications where there is evidence of fraud suspected to involve the BVI company concerned, its assets or owners, and the BVI Court has historically demonstrated a commercial and flexible approach to such applications where the need arises to identify individuals, or to trace assets,