Friday, May 22, 2009BVI Commercial Court Opens

Hedge Fund ReviewsCommercial Court Specialises In Cross-Border Commercial & Insolvency Matters

The British Virgin Islands has opened its Commercial Court which will specialise in cross-border commercial and insolvency matters. The government has formally opened the court and signed a memorandum of understanding with the Eastern Caribbean Supreme Court (ECSC) for its operation and administration.

The commercial court is a division of the regional ECSC and will hear commercial matters from nine Caribbean nations and territories, including Anguilla, Antigua and Barbuda, Dominica, Grenada, Montserrat, St. Kitts and Nevis, St Vincent, St Lucia and the BVI. Much of the court's calendar is expected to be taken up with matters stemming from the over 800,000 companies incorporated in the BVI.

Edward Bannister QC has been appointed the court's first presiding judge. Justice Bannister previously specialised in company, insolvency and commercial litigation at 3 Stone Buildings in London.

"This new court comes at a time when the volume of commercial litigation and insolvency is increasing in the BVI. The addition of a dedicated commercial court will add to the already strong commercial jurisprudence of the BVI," commented Phillip Kite, head of litigation at Harneys.

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