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.

Share
Twitter LinkedIn Email Save as PDF
More Publications
27 Sep 2022

Resealing Hong Kong Grants of Probate in the BVI

Once resealed, grants obtained in Hong Kong shall have the same force and effect, and have the same ...

Contributors: Crystal Au-Yeung
27 Sep 2022

Similar but Different

While the basic features of the trust remain, there are some notable differences in how trusts can b...

8 Sep 2022

The ICLG Guide to Fintech 2022: British Virgin Islands Chapter

Appleby has provided the British Virgin Islands chapter to the International Comparative Legal Guide...

28 Apr 2022

Restructuring the offshore debt of Chinese Real Estate Developers

This article sets out how the current regimes in the Cayman Islands and the BVI can assist with rest...

Contributors: Crystal Au-Yeung
28 Apr 2022

Assignment, novation or sub-participation of loans             

Transfers of loan portfolios between lending institutions have always been commonplace in the financ...

17 Mar 2022

Lexology chapter: Private Equity (Transactions) 2022 – British Virgin Islands

The Lexology Private Equity (Transactions): Global overview is an easy-to-use reference guide that p...

Contributors: Stuart Fee
28 Oct 2021

BVI – Protecting Personal Data: Are You Prepared?

The BVI Data Protection Act, 2021 (DPA) came into force on 9 July 2021. Drafted around a set of EU-...

Contributors: Peter Colegate
4 Oct 2021

The Last Rites for the Siskina?

On 4 October 2021, the Judicial Committee of the Privy Council delivered its much anticipated decisi...

Contributors: Eliot Simpson
6 Sep 2021

Lexology chapter: Private Equity (Transactions)

The Lexology Private Equity (Transactions): Global overview is an easy-to-use reference guide that p...

11 Jun 2021

Trust Disputes and the BVI Trustee (Amendment) Act, 2021

In the Trustee (Amendment) Act 2021 (the “Amendment Act”) the BVI legislature has made a number ...

Contributors: Crystal Au-Yeung