Grant Thornton obtains first Brazilian recognition of a BVI insolvency proceeding under UNCITRAL Model Law on Cross-Border Insolvency.

We often find in our role as liquidators of BVI companies that BVI companies hold or held accounts with banks in Switzerland.

The BVI Court provides helpful guidance on undertakings for damages in respect of freezing orders sought by insolvency practitioners

Privy Council Confirms liquidators of Ponzi Scheme cannot re-adjust losses after liquidation: Divergence from US Approach

Creditors of British Virgin Islands (“BVI”) incorporated companies are often concerned that by the time they obtain an order from the BVI Court placing the company into liquidation.

Liquidators from Grant Thornton have obtained the first reported order from the BVI Court to pool the assets and liabilities of related liquidation estates.

In our last update we commented on the tests applied by the BVI Courts when considering both the standing to challenge the decisions of BVI Liquidators and whether those decisions should be overturned.

Grant Thornton are often appointed as Liquidators/Receivers in situations where insufficient funding is available

When investigating fraud or other dissipation of assets, we often come across email addresses which are used in the fraud

Court of Appeal reaffirms principles applying to challenges to Liquidators’ Actions

BVI Court Confirms Liquidators were Duly Appointed by Shareholders Resolution

BVI Court utilises provisions of BVI Arbitration Act for the first time to appoint Receivers from Grant Thornton over a BVI company

Section 1782 of Title 28 of the United States Code (“1782 Discovery”) is an extremely powerful discovery tool available to Liquidators in the BVI to obtain Court ordered discovery from parties in the United States.

We were able to recently appeal a stamp duty assessment of EC$2.5m based on what we believed to be an inflated valuation of a property of EC$25m. The eventual stamp duty payable was EC$772k, saving a significant EC$1.7m in stamp duty for the estate.

In our capacity as Liquidators of BVI companies, we frequently discover that the company holds/held accounts at banks in Switzerland. These banks often refuse to co-operate with the Liquidator.