ArticleArbitration And Dispute Resolution In The BVIThe onset of the global financial crisis has placed increased focus on the BVI as an offshore jurisdiction.British Virgin IslandsWealth ManagementHarneys
ArticleGetting It Right When It All Goes Wrong: Appraising The Fair Value Of Minority SharesIn July 2011, in a case called HRH Prince Faisal v PIA Investments BVIHC(Com) 2011/03, the British Virgin Islands’ ("BVI") High Court considered whether parties could contract out of the BVI statutory mechanism for the appraisal of shares following a forced redemption by the majority (often referred to as the "squeeze out" of minority shareholders). British Virgin IslandsWealth Management
ArticleUndoing Trustee Errors – An Update On The Hastings-Bass Principle And The Law Of MistakeThe 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. British Virgin IslandsWealth ManagementHarneys
ArticleWhat Lenders And Borrowers Need To Know: A Snapshot Of Changes To BVI Law In 2015The British Virgin Island's reputation as the leading offshore jurisdiction is well earned and it is dedicated to maintaining its status as a jurisdiction which is creditor friendly and commercially flexible.British Virgin IslandsWealth ManagementHarneys
ArticleCayman Publishes Limited Liabilities Companies LawOn 18 December 2015, the Cayman Islands published a bill for the creation of a new law to permit the formation of a new type of vehicle in the Cayman Islands, a Cayman Islands limited liability company (LLC).British Virgin IslandsCorporate/Commercial LawHarneys
ArticleDispositions Of Assets By A BVI CompanyAn overview of the disposition of assets by a BVI company under section 175 of the BVI Business Companies Act.British Virgin IslandsCorporate/Commercial LawHarneys
ArticleTaking Security Over Shares In A Cayman Islands CompanyThis Guide discusses the Cayman Islands law requirements when taking security over shares in a Cayman Islands exempted company (a company). Cayman IslandsCorporate/Commercial LawHarneys
ArticleThe Cayman Islands Director Registration And Licensing ActThe Cayman Islands Director Registration and Licensing Act (the Act) requires directors of Cayman "covered entities" to register or become licenced by the Cayman Islands Monetary Authority (CIMA).Cayman IslandsCorporate/Commercial LawHarneys
ArticleCayman Liquidation Committees -- What Prospective Members Need To KnowIn this guide Harneys considers the role and function of a liquidation committee appointed under the Cayman Islands’ Companies Winding Up Rules.Cayman IslandsWealth ManagementHarneys
ArticleCayman Law Amended To Facilitate The Grant Of Interim Relief In Aid Of Foreign ProceedingsAs every good litigator will know, in the common law world service of process on the defendant is the means by which jurisdiction is established over that defendant.Cayman IslandsLitigation, Mediation & ArbitrationHarneys
ArticleWrapping It UpIn the recent decision of CF v DLG, the BVI Commercial Court held that a two-step process is to be preferred over the use of "wrap up orders" in Norwich Pharmacal proceedings.British Virgin IslandsLitigation, Mediation & ArbitrationHarneys
ArticleHedge Fund China Summit In ShanghaiHong Kong International Airport is a fine airport to be sure, but after five and a half hours sitting in the airport lounge, waiting for my delayed flight to Shanghai to depart, it was beginning to lose its appeal.ChinaFinance and BankingHarneys
ArticleKey Details On New Ministerial Decree Mandating Registration Of Essential Terms Of EmploymentThe Minister of Labour has, on 20 December 2024, issued a decree (RAA 455/2024) (Decree) pursuant to section 11 (6) of the Transparent and Predictable Employment Terms Law, L. 25 (I)/2023...CyprusEmployment and HRHarneys
ArticleData Protection For Cayman Islands Investment FundsThe Cayman Islands Data Protection Act (the DP Act) governs how a data controller may process, use and retain personal data. Anyone who falls within the definition of a "data controller"...Cayman IslandsPrivacyHarneys
ArticleReceivership: Draconian Or Now Versatile?Receivership; a draconian remedy of last resort. However, today, receivers are appointed to address a wide range of legal circumstances. This article summarises some features of the court appointed receiver. British Virgin IslandsFinance and BankingHarneys
ArticleWhat Should Your Fund Director Actually Be Doing?You've appointed your independent directors. They seem like good people, came highly recommended, have great resumes and seem interested and enthusiastic about your strategy.British Virgin IslandsFinance and BankingHarneys
ArticleThe Cryptosphere And Arbitration In The British Virgin IslandsThe BVI has significantly developed and promoted its role in international arbitration in the last decade. The BVI Arbitration Act (the Act), which is modelled on the UNCITRAL Model Law...British Virgin IslandsTechnologyHarneys
ArticleApplicability Of Ancient English Statutes In Common Law Offshore JurisdictionsMost offshore jurisdictions use every effort to ensure that the key statutes and laws relating to financial services business are updated regularly to keep pace with the changing landscape of cross-border commerce. British Virgin IslandsWealth ManagementHarneys
ArticleThe Impact Of FATCA On British Virgin Islands FundsThe British Virgin Islands Government announced that it had concluded negotiations with the US with respect to a Model 1B Intergovernmental Agreement.British Virgin IslandsFinance and BankingHarneys
ArticleLaunching An ICO In The British Virgin IslandsInterest in the setting up and distribution of initial coin offerings (ICOs) in the BVI and other offshore locations has mushroomed during 2017; we expect this to continue going forward. British Virgin IslandsCorporate/Commercial LawHarneys