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  • Article

    Don't Stick Your Head In The Sand: Strict Sanctions For Breach Of Freezing Injunctions

    In the recent case of SIA Investment Industry v Pardus Wealth Ltd, the English Commercial Court ruled on the appropriate sanction to be imposed on an individual respondent...
    British Virgin IslandsInternational Law
    Harneys
    Harneys
  • Article

    At What Costs? Court Of Appeal Ruling Raises Questions About BVI Legal Profession Act

    In Garkusha v Yegiazaryan and Ors (BVIHCMAP 2015/0010), the full Court of Appeal held that the fees of foreign lawyers not licensed under the Legal Profession Act 2015 (the Act) are not recoverable in a costs assessment.
    British Virgin IslandsLitigation, Mediation & Arbitration
    Harneys
    Harneys
  • Article

    Black Swan: "Stand-Alone" Injunctions In Support Of Foreign Proceedings

    The BVI court has jurisdiction to grant "stand-alone" injunctions in support of foreign proceedings.
    British Virgin IslandsLitigation, Mediation & Arbitration
    Harneys
    Harneys
  • Article

    Unlawful International Transfer Of Personal Data Results In Damages Awarded To EU Data Subject

    On 8 January 2025, the EU General Court (the Court) ruled in favour of a German citizen in Bindl v Commission (Case T-354/22)...
    British Virgin IslandsPrivacy
    Harneys
    Harneys
  • Article

    ESMA Releases Third Consultation Package On MiCA

    On 25 March 2024, the European Securities and Markets Authority (ESMA) released its third consultation package concerning the regulation of Markets in Crypto-Assets (MiCA).
    British Virgin IslandsTechnology
    Harneys
    Harneys
  • Article

    BVI Government Amends Work Permit Fees

    The BVI Government recently enacted a new revenue-increasing measure which raises the fees for annual and temporary work permits...
    British Virgin IslandsWealth Management
    Harneys
    Harneys
  • Article

    BVI Signs Multilateral Memorandum With Group Of International Financial Centre Supervisors

    The British Virgin Islands Financial Services Commission (BVI FSC) has signed a multilateral Memorandum of Understanding (MoU) between members of the Group of International Financial Centre Supervisors.
    British Virgin IslandsWealth Management
    Harneys
    Harneys
  • Article

    Getting To The 'Art Of The Matter | Key Considerations For Using BVI Structures In Art-Secured Lending

    The art finance market has seen an unprecedented boom in recent years, buoyed by changing perspectives amongst wealth management players and art collectors.
    British Virgin IslandsWealth Management
    Harneys
    Harneys
  • Article

    Birds Fly Across The Wall: Insufficient Evidence To Justify Substituted Service

    The petitioners, who are two minority shareholders of a Cayman Islands company, relied on alleged difficulties with service in the PRC under the Hague Service Convention (the Convention).
    Cayman IslandsCorporate/Commercial Law
    Harneys
    Harneys
  • Article

    Is This An Agreement To Arbitrate? – A Case Concerning Multiple Dispute Resolution Clauses

    The judgment in the recent English case of Bugsby Property LLC and Anor v Omni Bridgeway (Fund 5) Cayman Invt. Ltd serves as a useful reminder...
    Cayman IslandsLitigation, Mediation & Arbitration
    Harneys
    Harneys
  • Article

    No Place For Public Policy - Cayman Islands Reviews Forum Formula

    The Court recognised that its primary task is to identify the forum in which the case can be suitably tried for the interests of all parties and for the ends of justice.
    Cayman IslandsLitigation, Mediation & Arbitration
    Harneys
    Harneys
  • Article

    Cayman Islands Introduces The Mandatory Disclosure Rules For CRS Avoidance Arrangements And Opaque Offshore Structures

    The introduction of the MDRs is part of the Cayman Islands' commitment to adopting OECD-style Model Rules.
    Cayman IslandsPrivacy
    Harneys
    Harneys
  • Article

    The Use Of AI In Legal Proceedings: The Grand Court Weighs In

    The Cayman Islands Distinguished Guest Lecture for 2024, AI Transforming The Work of Lawyers and Judges, was given by the Rt Hon Sir Geoffrey Vos, Master of the Rolls.
    Cayman IslandsTechnology
    Harneys
    Harneys
  • Article

    EBA Guidelines On Group Capital Test For Cyprus Investment Firms

    On 22 October 2024, the Cyprus Securities and Exchange Commission (CySEC) announced its adoption of the European Banking Authority...
    CyprusCorporate/Commercial Law
    Harneys
    Harneys
  • Article

    Cyprus Snapshot: Options And Advantages

    Cyprus has been a member state of the European Union since 2004 and one of the top venues for the incorporation and establishment of businesses across Europe.
    CyprusWealth Management
    Harneys
    Harneys
  • Article

    ESMA's Guidance On Non-MiCA Compliant Crypto-Asset Services

    On 17 January 2025, the European Securities and Markets Authority (ESMA) issued a statement on providing crypto-asset services related to Asset-Referenced Tokens...
    European UnionTechnology
    Harneys
    Harneys
  • Article

    Iranian Sanctions Relief In The UK Overseas Territories: An Update For Bermuda, BVI And Cayman

    A significant number of EU sanctions and restrictive measures on Iran related to its nuclear programme were lifted across the EU and other states following Implementation Day of the JCPOA on 16 January 2016.
    GlobalInternational Law
    Harneys
    Harneys
  • Article

    UK Government Tightens Sanctions: Ban On Russian Diamonds Extended To Third Country Processors

    On 28 February 2024, the UK Government published the Russia (Sanctions) (EU Exit) (Amendment) (Regulations) 2024, extending the ban on Russian diamonds...
    GlobalInternational Law
    Harneys
    Harneys
  • Article

    Reciprocal Enforcement Between Hong Kong And China – Expanded Options

    BVI, Cayman Islands or Bermuda companies listed or with underlying operations in mainland China or Hong Kong
    GlobalLitigation, Mediation & Arbitration
    Harneys
    Harneys
  • Article

    UK Unveils Largest Sanctions Package Against Russia Since 2022

    On 24 February 2025, the UK announced its most significant sanctions package since the early days of Russia's full-scale invasion of Ukraine.
    United KingdomInternational Law
    Harneys
    Harneys

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