In the latest in the long-running Cukurova saga, the Court of Appeal has reversed a decision of the Commercial Court Judge which found that the (relatively) new Arbitration Act in BVI (2013) had taken away the Court’s jurisdiction to grant anti-arbitration injunctions.

Having lost the original arbitration pursuant to an award made in Geneva on 1 September 2011 (Final Award); and having failed on their application to set aside the enforcement judgment of the High Court in BVI dated 24 October 2011 (Enforcement Judgment) before the High Court in BVI, the Court of Appeal and the Privy Council, Cukurova A.S. commenced arbitral proceedings before a second arbitral tribunal.

Click below to read more, or feel free to email your Appleby contacts for further information.

Twitter LinkedIn Email Save as PDF
More Publications
20 May 2020 |

Getting The Deal Through | BVI – Private Equity: Fund Formation

Private equity funds in the British Virgin Islands (BVI) have historically favoured establishment as...

Contributors: Rebecca Jack
15 Apr 2020 |

British Virgin Islands Jurisdictional Guide for COVID-19

This guide provides an overview of the financial support on offer to businesses in the BVI. We revie...

Contributors: Shana Simmonds
25 Feb 2020 |

Technology & Innovation update Q1 2020

In each quarterly issue of the Appleby Asia Alert, we bring you all the latest legislative and regul...

25 Feb 2020 |

Economic Substance update Q1 2020

On 18 February 2020, the Economic and Financial Affairs Council (ECOFIN) announced that Bermuda and ...

25 Feb 2020 |

Securities and Investment Business (Amendment) Act, 2019 – new regulatory regime for closed-ended funds in the BVI

In response to the requirements of the European Union (“EU”), the BVI has recently enacted the S...

28 Oct 2019 |

4 Potential Structuring Options for BVI Acquisitions

With onshore M&A procedures often cumbersome and time consuming, the British Virgin Islands cont...

5 Jun 2018 |

Doing Business in the BVI

The British Virgin Islands (BVI) is a UK overseas territory with a population of approximately 32,00...