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  • Article

    Navigating Sanctions And Payment Commitments: Key Lessons From Celestial Aviation V UniCredit In The English Court Of Appeal

    In June 2024, the English Court of Appeal's judgment in Celestial Aviation Services Ltd v UniCredit Bank AG (London Branch) [2024] EWCA Civ 628 overturned a High Court ruling that raised concerns over the obligations...
    British Virgin IslandsInternational Law
    Harneys
    Harneys
  • Article

    Schemes Of Arrangement – Any Interest?

    In its recent judgment in Tristan Oil Ltd v The Scheme Creditors (BVIHCM 2023/0120) the BVI Commercial Court (the Hon. Justice Paul Webster (Ag.)) has considered the question of when a party...
    British Virgin IslandsInternational Law
    Walkers
    Walkers
  • Article

    Sanctions Update: Insights Into The Virgin Islands General Licence No. 7, 2024

    On 15 October 2024, the Governor of the BVI issued the Virgin Islands General Licence No. 7, 2024 (maintenance of economic resources).
    British Virgin IslandsInternational Law
    Maples Group
    Maples Group
  • Article

    Commission Updates FAQs On EU Sanctions Compliance By Non-EU Entities: The "Best Efforts" Obligation Under The EU Regulation 833/2014

    On 22 November 2024, the European Commission updated its frequently asked questions on sanctions against Russia and Belarus (the FAQs).
    European UnionInternational Law
    Harneys
    Harneys
  • Article

    Commercial Aviation Finance In The British Virgin Islands

    The British Virgin Islands ("BVI") is becoming an increasingly popular jurisdiction for aviation finance not only in the private and corporate jet sectors, but also in the commercial aircraft sector.
    British Virgin IslandsTransport
    Conyers
    Conyers
  • Article

    Importation Of Yachts Into The BVI

    The primary issues that a person intending to import a yacht into the BVI needs to consider are import duties and satisfaction of any applicable regulatory/licensing requirements.
    British Virgin IslandsInternational Law
    Harneys
    Harneys
  • Article

    UK Russian Sanctions Regime And BVI Contentious Proceedings: A Series

    Since Russia's military incursion in Ukraine began on 24 February 2022, the UK has introduced an extensive package of economic sanctions against Russia.
    British Virgin IslandsInternational Law
    Conyers
    Conyers
  • Article

    Sanctions: European Union Significantly Toughens Its Stance Towards Russia

    The EU is implementing a number of new restrictive measures on Russia in response to its perceived on-going actions in destabilising eastern Ukraine.
    European UnionInternational Law
    Harneys
    Harneys
  • Article

    Iran's Implementation Day Arrives And Harneys Is In The Thick Of It

    In 2005, Goldman Sachs named Iran as a member of the "Next Eleven", a country with the potential of becoming one of the world's largest economies in the 21st Century.
    GlobalInternational Law
    Harneys
    Harneys
  • Article

    Sanctions Against Russia Pose Tricky Questions For The BVI Judiciary

    Since Russia's military incursion in Ukraine began in February 2022, the UK has introduced an extensive package of economic sanctions against Russia.
    British Virgin IslandsInternational Law
    Conyers
    Conyers

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