Insolvency Set-Off Under British Virgin Islands Law
14th July, 2009
Insolvency laws and set-off provisions strive to provide fairness between creditors where the assets of an insolvent debtor are insufficient. Changing market conditions always bring out ingenuity in debtors and their lawyers seeking to obtain an advantage over their less aggressive rivals.
In this article Colin Riegels writes that the British Virgin Islands' Insolvency Act has been tested seriously for the first time during the recent credit crunch. He argues that thus far at least, the draftsmen must be reasonably pleased that their workmanship has held up so well.
Publication: Journal of International Banking Law and Regulation
Publication date: July 2009 (Issue 8)
Author: Colin Riegels
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