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Results: 1-10 of 49

Court gives guidance on Section 175 procedure
  • Harney Westwood & Riegels
  • British Virgin Islands
  • February 14 2013

Until recently, it was a matter of conjecture as to how the 'usual or regular course of business' exception to Section 175 of the Business Companies Act should be applied with respect to single purpose vehicles which hold a single asset


Dispositions of assets by a British Virgin Islands company
  • Harney Westwood & Riegels
  • British Virgin Islands
  • January 11 2013

Although under British Virgin Islands law, companies are (subject to limitations in their constitutional documents) generally free to dispose of


Derivatives, double derivatives and unfair prejudice
  • Harney Westwood & Riegels
  • British Virgin Islands
  • February 7 2013

N a recent decision concerning Sections 184C and D of the BVI Business Companies Act 2004, Microsoft made an application for leave under Section 184C


Grants ad colligenda bona securing estate assets at risk pending administration
  • Harney Westwood & Riegels
  • British Virgin Islands
  • December 6 2011

When the assets of an estate are endangered by delay in its administration, the court has a general power to make a limited grant of administration in order to preserve assets of the deceased within the jurisdiction without waiting until those entitled to a grant have applied


BVI Commercial Court case notes - June 2011
  • Harney Westwood & Riegels
  • British Virgin Islands
  • June 23 2011

One of the largest cases in the BVI Commercial Court this year is the litigation brought by the liquidators of Fairfield


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


Cayman court ruling on redemptions is significant legal marker for offshore funds
  • Harney Westwood & Riegels
  • Cayman Islands
  • January 13 2009

In the current economic climate many offshore funds are continuing to receive large numbers of redemption requests


Getting it right when it all goes wrong: appraising the fair value of minority shares
  • Harney Westwood & Riegels
  • British Virgin Islands
  • September 19 2011

In July 2011, in a case called HRH Prince Faisal v PIA Investments BVIHC(Com) 201103, 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


Out in the cold: how a victim can prevent dissipation of assets pending trial
  • Harney Westwood & Riegels
  • British Virgin Islands
  • July 28 2011

BVI courts are well versed in the provision of relief orders designed to preserve assets pending the resolution of a dispute


Litigation update: free-standing relief under Black Swan orders
  • Harney Westwood & Riegels
  • British Virgin Islands
  • March 22 2012

Before 2010, freezing injunctions in the British Virgin Islands were available only ancillary to a substantive domestic cause of action against the respondent