Offshore: A change in the air
Two months on, the Insolvency Act 2003 has signalled something of a revolution in the statutory framework governing insolvent liquidations in the British Virgin Islands. Sarah Dobbyn reports
It has been two months since the Insolvency Act 2003 came into force in the British Virgin Islands (BVI). The new legislation represents a revolution in the statutory framework governing insolvent liquidations in the jurisdiction. The previous statutory regime based on the English Companies Act 1948 has been swept away and no longer applies to any company going into liquidation after 16 August, 2004.
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