178 results found

Once upon a time, half way across the world and well over a decade ago, I gave my first client presentation on the merits of the BVI for cross border structuring to a roomful...

Following the completion of an industry consultation, the Securities and Investment Business Act, 2010 ("SIBA") came into force in the British Virgin Islands ("BVI") on 17 May 2010.

The object of this memorandum is to provide clients of Walkers with general information on the approval process under the Mutual Funds Act, 1996 (the "Act") in relation to an application for a restricted manager's license to provide management or administration services to a mutual fund.

After much anticipation, the British Virgin Islands ("BVI") enacted the Securities and Investment Business Act, 2010 on 12 April 2010 ("SIBA").

As a regulated entity, the statutory considerations relevant to the solvent liquidation of a fund domiciled and regulated in the British Virgin Islands (“BVI”) are, as might be expected, more stringent than those applying to unregulated entities domiciled in the BVI.

The British Virgin Islands is often chosen as a jurisdiction for investment managers to set up their fund vehicles.

A Chabra injunction is a powerful weapon which can substantially enhance the scope of assets which a claimant can ring-fence. Here, Carey Olsen's Jeremy Lightfoot, Richard Brown and Catie Wang...

The Government of the British Virgin Islands ("BVI") has published a Guide outlining how the European Union Savings Tax Directive ("EUSD") is to be implemented in the Territory. More comprehensive guidelines are expected to be issued in due course.

The BVI Commercial Court, which was established last May, has handed down an important decision on the status of a redeemed shareholder and the application of Section 197 of the Insolvency Act 2003 to the investor’s status.

It has been almost 3 years since the substantial change to BVI law, brought about by the Black Swan case.

The purpose of this article is to provide an overview of the authorised representative role that was introduced in the BVI by the Securities and Investment Business Act, 2010 ("SIBA").

The issue of confidentiality in offshore financial centres is high on the agenda in the financial press.

Historically, with limited exceptions, trusts for purposes rather than beneficiaries were refused recognition by the courts. The principal obstacle to recognition was the trustees' duty to account and the fact that this requires beneficiaries to enforce the duty.

In the recent case of Re FIA Leveraged Fund the Grand Court considered whether an in specie distribution properly discharged the Fund’s liability to redeeming investors.

Traditionally, the view has been that the right to set off one debt against another does not constitute a security interest but it may be that this position is no longer as clear cut in light of the recent Canadian Supreme Court ruling in Caisse populaire Desjardins de l’Est de Drummond v. Canada, 2009 SCC 29 ("Caisse populaire")

New Trust legislation in the BVI has broadened the range of trust options available to private clients and enhanced BVI trust legislation...

As a consequence of one of the basic features of English trust law (ie that a trust is not a separate legal entity), a trust cannot as such enter into liabilities, with the result that the primary remedy of anyone dealing with a trustee is against such trustee.