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The last decade has exposed the bankruptcy courts across the globe to a large volume of international work, and with that experience in mind, the Judicial Insolvency Network (JIN)...

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...

At the 11th hour, the British Virgin Islands Financial Services Commission announced that the Companies Act, 1884 would not be repealed on 31 December 2007 as previously indicated.

Generally speaking the British Virgin Islands ("BVI") is an extremely flexible jurisdiction in relation to the granting and registering of security interests.

Public bodies must strike a balance when discharging their international obligations in the mutual exchange of information by ensuring that procedural fairness safeguards for BVI persons are observed in the performance of those obligations.

The principle established in 1974 in the case of "Hastings-Bass ([1975] Ch 25 (CA))" has in the past allowed a Court to set aside an action taken by Trustees who have failed to take some important factor (such as tax considerations) into account when deciding to take the action.

Cyprus has become a leading forum in the international maritime industry mostly due to the attractive tax system for ship owners and ship managers and due to its ratification of major international maritime conventions.

In what proved to be a late Christmas present for the board of International Investments Enterprises Ltd (IIEL), Harneys Bermuda successfully invoked the now seldom relied upon quia timet, "because he fears" jurisdiction of the Supreme Court of Bermuda.

The Virgin Islands have enacted the Financial Investigation Agency (Amendment) Act, 2024, an essential piece of legislation aimed at strengthening financial integrity and combating illicit financial activities.

A derivative action is brought where a wrongdoer, most commonly a director of the company, has caused the company loss through their wrongdoing.

Under most jurisdictions, unless a trust is established for charitable purposes, the assets require to be held for a specific beneficiary or class of beneficiaries.

The BVI today adopted new guidelines for communication and cooperation between courts in cross-border insolvency matters.

Below is a summary of recent cases out of the British Virgin Islands (BVI) Commercial Court, compiled by Harneys’ Litigation team.

A new "regulation light" fund manager regime for the BVI came into effect on 10 December 2012.

The recently established Commercial Court in the British Virgin Islands has been busy on a number of important cases and Phillip Kite, global head of litigation at Harneys, discusses two of the distressed fund cases that have recently been decided in the BVI.

The British Virgin Islands Financial Services Commission ("FSC") announced on 9 September 2008 the creation of a new Annual Return regime for BVI investment funds.

The cost-benefit analysis of AEOI initiatives will no doubt be debated for many years to come. When considering the impact on the Caribbean region, however, two issues stand out.