While there has not been the deluge of restructuring deals that insolvency practitioners had predicted as a result of the global pandemic, it is certainly true that the British Virgin Islands saw an increase in the number of schemes and ‘light touch’ provisional liquidations in 2020 and 2021 as a result of the economic effects of Covid-19, and this is a trend that is likely to increase, particularly with the British Virgin Islands entities’ exposure to China-related debt.
Discussion points include:
- The recent schemes of arrangement that have been approved
- The increased willingness of the judiciary to assist struggling companies that have a realistic prospect of trading their way out of difficulty
- Possible reforms to the restructuring regime
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This article is an extract from GRR’s Americas Restructuring Review 2022. The whole publication is available at globalrestructuringreview.com/review/restructuring-review-of-the-americas/2022.
