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Green light for liquidators to draw interim payments without fee approval
  • Harneys
  • British Virgin Islands
  • November 10 2016

On September 20 2016 the BVI Commercial Court clarified whether the BVI Insolvency Act 2003 provides a basis for liquidators to draw fees on account


Shareholder disputes: when is just and equitable liquidation appropriate?
  • Harneys
  • British Virgin Islands
  • September 1 2015

Unfair prejudice claims have been commonplace in the British Virgin Islands since the introduction of bespoke provisions in the BVI Business


Arbitration agreements and insolvency proceedings
  • Harneys
  • British Virgin Islands
  • February 11 2016

Recently, the British Virgin Islands has seen a trend wherein debtors involved in winding-up proceedings have sought to identify what appear to be


China Shanshui: change of direction for company winding-up petitions
  • Harneys
  • Cayman Islands
  • January 7 2016

In a widely discussed Cayman Grand Court decision, Justice Mangatal parted company with one of her fellow judges by declining to follow Justice


Asset tracing in the British Virgin Islands
  • Harneys
  • British Virgin Islands
  • July 9 2015

A company incorporated in the British Virgin Islands is required to maintain certain records at the office of its registered agent (eg, its


Court clarifies ranking of shareholder claim
  • Harneys
  • Cayman Islands
  • November 17 2016

The Cayman Islands Court of Appeal decision in In the matter of the Herald Fund SPC (in official liquidation) has provided some clarity on the


Privy Council clarifies power to rectify share registers of BVI companies
  • Harneys
  • British Virgin Islands
  • May 21 2015

On January 21 2015 the Privy Council handed down its decision in Nilon Limited v Royal Westminster Investments SA (2015 UKPC 2), clarifying the


Unfair prejudice and beneficial shareholders: a confused noise
  • Harneys
  • British Virgin Islands, United Kingdom
  • November 23 2016

While the position regarding the standing of struck off companies in BVI is relatively clear (see last year's English Commercial Court decision of


Voluntary liquidation: an almost irreversible procedure
  • Harneys
  • British Virgin Islands
  • November 26 2015

Can a company that has been voluntarily wound up be restored to good standing on application by a former shareholder, liquidator or director who has


Exercise of discretion to wind up company not "head-counting exercise"
  • Harneys
  • British Virgin Islands
  • March 24 2016

Although the wishes of the majority of creditors (whether in number or by value) is an important factor in many decisions made in insolvency