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Updated audit guidelines for BVI funds and regulated companies

  • Harney Westwood & Riegels
  • -
  • British Virgin Islands
  • -
  • February 27 2012

The British Virgin Islands Financial Services Commission (“Commission”) has recently issued guidance on the form and content of the audited financial statements to be prepared and filed by certain regulated companies

Redemptions in kind the end of the road for in specie distributions?

  • Harney Westwood & Riegels
  • -
  • Cayman Islands
  • -
  • August 3 2012

In the recent case of Re FIA Leveraged Fund the Grand Court considered whether an in specie distribution properly discharged the Fund’s liability to redeeming investors

'Blank cheque' preferred shares and BVI companies

  • Harney Westwood & Riegels
  • -
  • British Virgin Islands
  • -
  • June 29 2011

In relation to private placements, joint ventures or at times public listings, BVI companies are sometimes structured so as to be able to issue what is known as “blank cheque preferred shares”

First plan of arrangement completed in the BVI

  • Harney Westwood & Riegels
  • -
  • British Virgin Islands
  • -
  • September 28 2011

Jacqueline Daley-Aspinall and Keisha M Durham recently advised on and effected the first plan of arrangement completed under the BVI Business Companies Act in accordance with section 177

Duties of independent non-executive directors of an investment fund: the Weavering judgment

  • Harney Westwood & Riegels
  • -
  • Cayman Islands
  • -
  • September 12 2011

The judgment of the Grand Court of the Cayman Islands in Weavering Macro Fixed Income Fund Limited (in Liquidation) v Stefan Peterson and Hans Ekstrom has been seized upon by the financial services industry in the Islands as invaluable guidance, albeit in fact specific circumstances, as to the standard of performance expected of the board of directors of a Cayman Islands domiciled fund