BVI APPEAL COURT RULES FREEZING INJUNCTION AGAINST BVI COMPANY WAS WRONGLY GRANTED

On 1 June, STEP reported that the Eastern Caribbean Court of Appeal has ruled that a free-standing freezing injunction cannot be granted against a BVI company that is not party to substantive proceedings either in the BVI or elsewhere.  It says that this new case undermines an earlier decision which provided the BVI courts with the power to grant an interim freezing order in support of foreign proceedings, and which has been regarded as a key element of the BVI’s fight against fraud.

https://www.step.org/news/bvi-appeal-court-rules-freezing-injunction-against-bvi-company-was-wrongly-granted

 

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Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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