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The Impact of Recent Amendments to BVI Service Out Rules on Enforcement Against BVI Assets

May 2014 Jerry D. Samuel

The recent amendment to Part 7.3(5) of the Eastern Caribbean Supreme Court, Civil Procedure Rules, 2000 (“the CPR”), made by the Eastern Caribbean Supreme Court, Civil Procedure (Amendment) Rules, 2013 (the “Amended Rules”) on 18 December 2013 (Gazetted on 4 February 2014), was another improvement to accessibility of the service out regime under Part 7 of the CPR, following the most recent changes in 2011.

The Amended Rules, though narrowly focused, should be welcome for clarifying the procedural rules and effectively broadening the scope for enforcement of money judgments or arbitral awards at common law, thereby making the various forms of execution that are available in the BVI more readily accessible, particularly as against foreign judgment debtors who own BVI assets. This article provides a brief discussion of recent changes to the relevant procedural rule, the Court of Appeal decision that led to the Amended Rules and the likely impact on the BVI’s reputation as a modern financial centre.

 

To continue reading full articles in PDF format:
The Impact of Recent Amendments to BVI Service Out Rules on Enforcement Against BVI Assets

 


Jerry D. Samuel
Partner

British Virgin Islands   +1 284 852 1116


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Alerts

The Impact of Recent Amendments to BVI Service Out Rules on Enforcement Against BVI Assets

09 May 2014 Jerry D. Samuel

The recent amendment to Part 7.3(5) of the Eastern Caribbean Supreme Court, Civil Procedure Rules, 2000 (“the CPR”), made by the Eastern Caribbean Supreme Court, Civil Procedure (Amendment) Rules, 2013 (the “Amended Rules”) on 18 December 2013 (Gazetted on 4 February 2014), was another improvement to accessibility of the service out regime under Part 7 of the CPR, following the most recent changes in 2011.

The Amended Rules, though narrowly focused, should be welcome for clarifying the procedural rules and effectively broadening the scope for enforcement of money judgments or arbitral awards at common law, thereby making the various forms of execution that are available in the BVI more readily accessible, particularly as against foreign judgment debtors who own BVI assets. This article provides a brief discussion of recent changes to the relevant procedural rule, the Court of Appeal decision that led to the Amended Rules and the likely impact on the BVI’s reputation as a modern financial centre.

 

To continue reading full articles in PDF format:
The Impact of Recent Amendments to BVI Service Out Rules on Enforcement Against BVI Assets

 


Jerry D. Samuel
Partner

British Virgin Islands   +1 284 852 1116


 

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