Mr Richard Brown

Richard Brown

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Insolvency & Restructuring

This is not a wind up: BVI court approves restructuring provisional liquidation
British Virgin Islands | 15 March 2019

In a major development in BVI insolvency law and practice, the Commercial Court recently held that provisional liquidation is available to facilitate a restructuring. The objective of a restructuring provisional liquidation is to provide a better outcome for creditors than would be likely on a winding up. The Commercial Court's decision will certainly influence the current debate in the British Virgin Islands regarding insolvency legislation reforms.