British Virgin Islands
COVID-19 is having a widespread impact on financial markets and the global economy as businesses struggle with the disruption caused.
There is no bar on private prosecutions for the vast majority of criminal offences; therefore, in theory, any authority or private party may prosecute.
The Government of the British Virgin Islands has recently published two Bills (the Bills) which were read in the House of Assembly last month.
At the 11th hour, the British Virgin Islands Financial Services Commission announced that the Companies Act, 1884 would not be repealed on 31 December 2007 as previously indicated.
Since its enactment in 2003, the Insolvency Act ("the Act") has made significant and positive changes to insolvency law in the BVI. Phillip Kite gives an update on the way some of the more important changes have been interpreted to date. For UK practitioners, there are also some thoughts on how the Act might enable a BVI company, with a BVI governed floating charge, to circumvent some of the provisions of the UK Enterprise Act.
The political and economic rollercoaster ride we've been on here in the UK since the EU referendum in June seems set to continue following Thursday's High Court judgment in London.