Impact of recent amendments to BVI service out rules on enforcement against BVI assets
The recent amendment to Part 7.3(5) of the Eastern Caribbean Supreme Court, Civil Procedure Rules 2000 (CPR), made by the Eastern Caribbean Supreme Court, Civil Procedure (Amendment) Rules 2013 on 18 December 2013 (gazetted on 4 February 2014), was another improvement to accessibility of the service-out regime under Part 7 of the CPR, following the most recent changes in 2011.
The amended rules, although narrowly focused, should be welcome for clarifying the procedural rules and effectively broadening the scope for enforcement of money judgments or arbitral awards at common law, thereby making the various forms of execution that are available in the British Virgin Islands (BVI) more readily accessible, particularly against foreign judgment debtors who own BVI assets. This article provides a brief discussion of recent changes to the relevant procedural rule, the Court of Appeal decision that led to the amended rules and the likely impact on the BVI’s reputation as a modern financial centre…
Click on the link below to read the rest of the Conyers briefing.
Sign in or Register to continue reading this article
It's quick, easy and free!
It takes just 5 minutes to register. Answer a few simple questions and once completed you’ll have instant access.Register now
Why register to The Lawyer
In-depth, expert analysis into the stories behind the headlines from our leading team of journalists.
Identify the major players and business opportunities within a particular region through our series of free, special reports.
Receive your pick of The Lawyer's daily and weekly email newsletters, tailored by practice area, region and job function.
More relevant to you
To continue providing the best analysis, insight and news across the legal market we are collecting some information about who you are, what you do and where you work to improve The Lawyer and make it more relevant to you.
News from Conyers Dill & Pearman
News from The Lawyer
Briefings from Conyers Dill & Pearman
Effective 1 December 2015, the British Virgin Islands Registry of Corporate Affairs will be offering premium services.
The Supreme Court has now “clarified”, in reality re-formulated, the applicable test for determining whether a particular contractual provision should be struck down as being a penalty.