Because of levels of economic turmoil not seen for nearly a century, some secured creditors have been taking a slightly fresh approach in relation to realisation of their security in the event of a default.

In April 2015 the BVI, the Cayman Islands and certain other jurisdictions were removed from Italy's blacklist of jurisdictions.

The Insolvency Act, 2003 of the British Virgin Islands (the "IA") provides that netting provisions in financial contracts are exempted from the insolvency provisions of the IA.

The UK government has welcomed the Bri6sh Virgin Islands' commitment to crea6ng a publiclyaccessible register of company ownership by 2023.

Harneys has recently acted for a client in a successful court approved arrangement under section 82 of the International Business Companies Act (Cap. 291) (the "Act"). Importantly the arrangement offered significant benefits to a client with a complex corporate transaction that it wished to put in place. The primary benefit in this case was the ability to seek exemption of exchanged securities from registration under the US Securities Act of 1933, as amended (the "Securities Act&q

The art finance market has seen an unprecedented boom in recent years, buoyed by changing perspectives amongst wealth management players and art collectors.

The first quarter of 2007 has been a very good one for the BVI. On the back of a continued golden period for much of the global economy, the BVI continues to boom. The Financial Times Special Report on the BVI, which was published on 9 March, paid a glowing tribute to the way in which the BVI has continued to develop and position itself.

The British Virgin Islands Financial Services Commission (the “FSC”) has made significant changes to the BVI’s Anti Money Laundering and Terrorist Financing Code of Practice (the “Code”) impacting upon all BVI entities and professionals and further modifying the Code’s effects on BVI mutual funds and fund managers and administrators.

This guide contains a summary of the current sanctions regime imposed on Ukraine by the European Union in March 2014.

Banking secrecy has been under scrutiny during the past few years, with Swiss and Luxembourg banks under pressure to relax banking secrecy rules.

On 15 September 20091 the judge responsible for the Lehman bankruptcy proceedings in the United States held that Metavante Corporation (“Metavante”) could not rely on Section 2(a)(iii) of the ISDA Master Agreement to suspend payments to Lehman Brothers Special Financing, Inc. (“LBSF”).

It goes without saying that 2008 was a year of turmoil for the Hedge Fund industry as liquidity dried up and share prices fell. The chart below tells the story, which starts with the US housing crisis in 2005.

Yes, yes, we all know what the mem and arts and the local companies’ legislation say about having so many (offshore) board meetings a year but, even so, wouldn’t it just be nice to have the flexibility of having them where and when they were needed rather than having to travel half way across the world for a one hour meeting to discuss not very much?

2016 was an incredibly hard year for the hedge fund industry. One industry statistic has suggested that new fund launches were 40% down on 2015, with the number of new funds...

On 5 May 2009 the Privy Council in London handed down its decision in Alfa Telecom Turkey Limited v Cukurova Finance International Limited [2009] UKPC 19, drawing a definitive end to the vexed preliminary issue under British Virgin Islands law.

On 20 July 2011 the Eastern Caribbean Court of Appeal ("ECCA") handed down the latest decision in the long running case of "Alfa Telecom Turkey Limited v Cukurova Finance International Limited and Cukurova Holdings AS".

The British Virgin Islands Financial Services Commission announced on 9 September 2008 the introduction of an annual financial reporting regime, which will require all funds to file a Mutual Funds Annual Return each year.

The legacies of the global financial crisis continue to permeate the global landscape.

Since the British Virgin Islands ("BVI") invested in a decision to upgrade its corporate framework through the introduction of the Mutual Funds Act, 1996, the Insolvency Act, 2003, and the BVI Business Companies Act, 2004, it has become one of the most popular jurisdictions for corporate transactional work as well as for the incorporation of companies and funds.

The facts behind Mr. Justice Lewison’s recent judgment in Stanford (STANFORD INTERNATIONAL BANK LIMITED [2009] EWHC 1441 (Ch)) have no direct connection with either the British Virgin or Cayman Islands but lawyers there do have particular reason to note the more general principles around the seemingly vexed but important issue of COMI in the context of multi-jurisdictional insolvency.