Insights

We are all aware of the worldwide personal, financial and economic impacts of COVID-19. If not already, COVID-19 consequences will extend to finance and security agreements and parties should consider how they may be affected and should begin considering how they can mitigate the impact. Most experts agree that a global recession is inevitable and may have a circular effect on finance: if businesses cannot afford to repay their loans, the banks will not lend; if the banks do not lend then many businesses will not have working capital to fund business operations, leading to their demise.

In the second episode of our Funds Download series, host Phil Graham is joined by Co-Head of the Cayman Islands practice, Matt Taber, Global Head of Dispute Resolution, Phillip Kite and the Head of our Dispute Resolution practice in the Cayman Islands, Nick Hoffman, to relive the events of the financial crises of 2008/2009 and examine what valuable lessons were learnt by the funds industry as a result.

The 2007/2008 financial crisis revealed a variety of substantial weaknesses in several areas of the world’s financial system. The impact of these weaknesses led to the implementation of various reforms to bolster the system to ensure that it was better equipped to survive future economic downturns.

This guide provides an overview of what sanctions are, why financial sanctions are used, who is subject to financial sanctions, and how subjects can remain compliant with any sanctions regimes that are extended to the BVI.

Our third episode Jayson Wood and Jessica Williams, Partners in our Litigation and Insolvency practice group, discuss cross-border restructuring tips for US bankruptcy attorneys.

The Black Swan jurisdiction provides the British Virgin Islands (BVI) courts with the power to grant an interim freezing order in support of foreign proceedings. It is a key weapon in the BVI's arsenal in the fight against fraud.