BVI Commercial Court Confirms Pro-Assistance Approach

Walkers acted for the successful applicant, a Trustee in Bankruptcy appointed in the Tokyo Bankruptcy Court. The Trustee sought recognition of his appointment and orders enabling him to take possession of property within the jurisdiction, shares in a BVI company under the control of the bankrupt, which fell within the bankruptcy estate. Wallbank J granted the orders, including an order in rem in respect of the shares. Applications seeking recognition of foreign representatives in the BVI are very rare and the court's decision in the current application confirms the continuing willingness of the BVI Commercial Court to lend assistance to foreign office holders seeking to secure property located within the BVI.

Partner Rosalind Nicholson and Associate Colleen Farrington, based of Walkers' British Virgin Islands office, who appeared on the application, worked alongside Rowena Lawrence, Counsel, and Catherine Read, Senior Associate, of Walkers' Hong Kong office.