Service via NFT Air-Drop as Good as Gold in the BVI
In the case of AQF v (1) XIO (2) VQF, (3) CGN the BVI Court approved an ex parte order for service by alternative means by serving the “unknown” First Defendants by non-fungible token (NFT) airdrop to digital wallet addresses in the BVI’s first published decision permitting alternative service via NFT air-drop under the new Eastern Caribbean Supreme Court Civil Procedure Rules (Revised Edition) 2023, as well as a mandatory freezing and disclosure order against the Second and Third Respondents as “issuers” of the tokens.
Schemes of Arrangement are often used as a successful restructuring tool, whether by way of a scheme promulgated in a company’s home jurisdiction or overseas.
Crypto Debt finds firm ground in the Singapore High Court for supporting a winding up petition. Would the same apply in other common law jurisdictions, including the BVI?
Bermuda: How to improve IT project outcomes
Transformative IT projects are not for the faint of heart, as they carry with them high probabilities of cost overruns, material delays and unacceptable service deficiencies.
Arbitration Clauses & Insolvent Winding Up Proceedings: The Cayman Anomaly
Much has been written in the wake of the Privy Council’s decision in FamilyMart China Holding Co Ltd v Ting Chuan (Cayman Islands) Holding Corp about how Cayman is a pro-arbitration jurisdiction.
Bermuda: Insolvency in a Consistently Reliable Restructuring Jurisdiction
This article discusses the defining features of Bermuda’s insolvency landscape and the primary insolvency and rescue procedures available under Bermudian law, including compulsory liquidations and schemes of arrangements.
Cayman Islands Real Estate Finance and Investment Outlook 2023
The Cayman Islands continue to offer attractive opportunities for real estate finance and investment. This article explores the current state of the Cayman Islands’ real estate market (post second quarter market trends), the factors driving investment, and the considerations that make Cayman an appealing choice for investors.
Isle of Man Trusts and Trustees Act 2023 Update
The much anticipated Trusts and Trustees Act 2023 received Royal Assent on the 18 July 2023, bringing into force sections 1 and 2. The remainder of this Act comes into operation by Appointed Day Order 4 December 2023.
Uncertainty Over Control Test in Sanctions Relating to Russia
Bermuda-based companies undertaking business with Russian entities must comply with the island’s sanctions regime, which has expanded significantly since the beginning of the war in Ukraine.
HKEX’S Proposed Expansion of Paperless Listing Regime
On 30 June 2023, HKEx published the conclusions of the consultation on expanding the paperless listing regime and certain rule amendments, in an effort to foster environmental sustainability and to support the global initiatives towards greener economies and a sustainable future.
A Comparative Analysis of BVI and Bermuda Law Security Registration Formalities
The British Overseas Territories of Bermuda and the British Virgin Islands (BVI) are widely recognised as two of the world’s leading international financial services centres. Each is known as providing creditor-friendly legal systems, aided by pragmatic and commercial security registration regimes. These security registration regimes make these jurisdictions attractive options for lenders and businesses to consider when entering into secured financing transactions. This article examines and compares the registration formalities to be met in the BVI and Bermuda, should a lender wish to take security over the assets of BVI and Bermuda entities. In this analysis reference is made to security interests granted as being “charge/s”. However, this term is applied generically and refers to various forms of security interests granted under mortgages, pledges, legal and equitable charges (fixed and floating), assignments, liens and debentures.
G20 Sustainable Finance Initiative and Offshore Green Financing
Green and sustainable finance has been expanding rapidly as investment decisions are increasingly taking into account environmental, social and governance (ESG) factors.
