In the recent decision of CF v DLG, the BVI Commercial Court held that a two-step process is to be preferred over the use of “wrap up orders” in Norwich Pharmacal proceedings. The applicant, a judgment creditor, sought Norwich Pharmacal relief against registered agency service providers to the judgment debtor, for information to assist with considering its enforcement options.

The Cyprus legal system has been subject to recent reforms which seek to streamline its processes and offer efficient recourse to the courts in dispute resolution.

In a significant ruling, His Honour Justice Johns KC determined that when calculating equitable compensation, proprietary claims and recoveries made from third parties should be taken into account.

BVI, Cayman Islands or Bermuda companies listed or with underlying operations in mainland China or Hong Kong can now take advantage of an improved regime for the reciprocal enforcement of judgments between the two …

In a recent decision the English High Court discharged a proprietary injunction that enjoined Binance from dealing with the proceeds of a scam. In doing so, the court warned against assuming that cryptocurrency exchanges act as constructive trustees of misappropriated digital assets.

The English Court of Appeal has in the recent judgment of Investment Bank PSC v El-Husseini examined the purpose and scope of section 423 of the Insolvency Act (the IA), which deals with transactions defrauding creditors.

Harneys contributed the British Virgin Islands chapter in the Chambers 2023 International Fraud & Asset Tracing Global Practice Guide. The guide provides the latest legal information on fraud claims, disclosure of assets, shareholders’ claims against fraudulent directors, overseas parties in fraud claims, rules for claiming punitive or exemplary damages and laws to protect banking secrecy.

On 31 March 2023, in the case of Re Gatecoin Limited (in liquidation), the Honourable Madam Justice Linda Chan of the Hong Kong Court of First Instance ruled on an application by the liquidators of Gatecoin seeking directions on the characteristics of cryptocurrencies and fiat currencies and whether the cryptocurrencies held should be regarded as being held on trust for Gatecoin’s account holders. The decision brings Hong Kong in line with other common law jurisdictions whose courts have already decided that issue, including England and Wales, New Zealand and the BVI. This is further acceptance by the common law courts that, despite their unusual features, cryptocurrencies and digital assets do not sit outside of the law.

In the recent decision of Charles Peterson et al v Douglas Riegels et al the Eastern Caribbean Court of Appeal remind us of how high the bar is when an appellant seeks to impugn the exercise of discretion by a first instance judge.