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Harneys is a leading international offshore law firm. We provide advice on British Virgin Islands, Cayman Islands, Cyprus, Bermuda, Mauritius and…
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Harneys | Cayman Islands | 7 Sep 2022

The Virtual Currency Regulation Review: Cayman Islands

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Harneys | British Virgin Islands | 6 Jun 2019

Taking charge: Commercial Court delivers judgment on its jurisdiction to grant charging orders

The Commercial Court recently confirmed that the BVI courts have jurisdiction to grant charging orders. Charging orders are a critically important tool, particularly when enforcing foreign judgments, as they allow creditors to take a proprietary interest over assets owned by a debtor and can ultimately facilitate the sale of such assets to allow creditors to realise their debts.
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Harneys | British Virgin Islands | 30 May 2019

Scope of disclosure orders and contempt of court

A BVI court recently considered a contempt application seeking further disclosure by way of an 'unless' order and whether cross-examination of the respondents should be ordered to determine the issue of contempt. This decision highlights the exceptional nature of cross-examination orders and the high standard of proof required for contempt orders.
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Harneys | British Virgin Islands | 2 May 2019

Relief all round – Court of Appeal upholds relief from sanction

The BVI Court of Appeal recently denied an appellant declaratory relief and upheld the respondents' relief from sanction, as granted by the lower court. While this judgment will inevitably provide some comfort to those that find themselves facing sanctions having inadvertently failed to comply with a rule, practice direction or order, it is a timely reminder for everyone that it is better to......
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Harneys | British Virgin Islands | 25 Apr 2019

No more second chances: Court of Appeal guidance on strike out

The Court of Appeal recently clarified the procedural considerations required following the strike out of an action pursuant to Civil Procedure Rule 26.3. All three of the appellants' procedural grounds of appeal were rejected by the court, which held that (among other things) a judge must give a party which has a defective pleading an opportunity to put right any defect.
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Harneys | British Virgin Islands | 4 Apr 2019

Misplaced trust – what happens when your trustee goes AWOL?

In a recent case, an applicant succeeded in the increasingly commonplace but frustrating situation where the beneficiary of a revocable bare trust cannot obtain execution of the trust due to an uncooperative or defunct corporate nominee. The court ultimately granted the vesting order sought by the beneficial owner and appointed an insolvency practitioner as the statutory proper person.
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Harneys | British Virgin Islands, United Kingdom | 21 Mar 2019

Commercial Court provides welcome guidance on Norwich Pharmacal relief in aid of foreign proceedings

In a recent ex tempore judgment, the BVI Commercial Court's power to grant Norwich Pharmacal disclosure orders in support of foreign proceedings was clarified. The judgment was given on a successful application for Norwich Pharmacal relief to assist Brazilian clients in bringing claims for the recovery of misappropriated assets. The decision confirms the British Virgin Islands as a......
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Harneys | British Virgin Islands | 14 Mar 2019

This is not a wind up: BVI court approves restructuring provisional liquidation

In a major development in BVI insolvency law and practice, the Commercial Court recently held that provisional liquidation is available to facilitate a restructuring. The objective of a restructuring provisional liquidation is to provide a better outcome for creditors than would be likely on a winding up. The Commercial Court's decision will certainly influence the current debate in the......
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Harneys | British Virgin Islands | 29 Nov 2018

Reverse engineering: Court of Appeal in rare reversal of findings of fact

The BVI Court of Appeal recently considered the scope of its jurisdiction to interfere with findings of fact made at first instance. This is the second time in 2018 that the court has addressed this issue. While the threshold for intervention is high, the court will intervene on appropriate occasions. The thoroughness of the evaluation of evidence and the credibility of the judge's......
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Harneys | United Kingdom | 14 Nov 2018

Privy Council to clarify application of forum non conveniens principles in the BVI

The Court of Appeal has granted JSC MCC Eurochem and Eurochem Trading GmbH leave to appeal the Court’s own decision in which it applied the principles…
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