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When the Commercial Judge of the British Virgin Islands the Honourable Mr Justice Edward Bannister QC (Ag), was asked in a recent interview for the publication BVI Business “Have you made any court decisions here that have had implications for other commercial courts” his answer was “I decided a case here called Black Swan, and that’s been followed in Cayman, for example”. It is certainly true that Black Swan, known by its full name Black Swan Investment I.S.A v Harvest View Limited and Sablewood Real Estate Limited has resonated outside the Eastern Caribbean Supreme Court Virgin Islands circuit including the Cayman Islands but it is perhaps not the case that it is being followed there, more on that later. The continued relevance two (2) years on of the Black Swan jurisdiction cannot be overstated and in light of the Eastern Caribbean Supreme Court, Court of Appeal’s decision in Yukos CIS Investments Limited et al v Yukos Hyrdocarbons Investments Limited it is arguable that the jurisdiction is perhaps now broader than originally intended. Click the link below to read more.
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The Black Swan jurisdiction two years on: lessons and limitations