Harneys authors new edition of British Virgin Islands Commercial Law

Harneys is pleased to announce the publication by Sweet & Maxwell of the third edition of the popular legal textbook British Virgin Islands Commercial Law. In addition to revising and updating the existing text, the new edition incorporates new chapters dealing with confidentiality law and anti-money laundering obligations under British Virgin Islands law.
Harneys will shortly announce details of launch events for the textbook to take place in Hong Kong, Singapore and the British Virgin Islands.
The new edition devotes considerable time to addressing developments in the law from new judicial decisions, including Chang v Winbless (shareholders’ right to requisition meetings), Scripilliti v Clomar Corporation (treatment of deceased bearer shareholders), In the matter of C (orders in aid of foreign bankruptcy proceedings) and the Court of Appeal’s reversal of the decision in Somers Dublin v Monarch Pointe (claims of redeemed members in a fund’s liquidation) amongst others.

Various sections have also been updated following on from key common law decisions from overseas, including the United Kingdom Supreme Court decisions in Prest v Petrodel (piercing the corporate veil) and the Eurosail case (balance sheet insolvency test).

Specific chapters have been revised to incorporate new legislation and regulatory developments. The Arbitration Act 2013 and Computer Misuse and Cybercrime Act 2014 are discussed and considered. Recent Tax Information Exchange Agreements (TIEAs) are also reviewed, as are legislative developments relating to US FATCA and the so-called “UK FATCA.”

Harneys Partner Colin Riegels, who edited the book, said “The third edition has been something of a marathon undertaking, running to over 1,000 pages. Whilst we have been true to the core focus of the original textbook – companies, funds, trusts and civil procedure - the third edition does try to provide much wider and more comprehensive coverage of the subject as a whole than earlier editions.”

British Virgin Islands Commercial Law is the only publication that focusses exclusively on the British Virgin Islands. The book provides a deep analytical view of the offshore jurisdiction’s legal landscape as it relates to companies, partnerships, credit and security, mutual funds, insolvency, dispute resolution, taxation, and trusts.
Harneys Partners Colin Riegels and Ian Mann served as general editors of the textbook. Contributing editors included Partners Aki Corsoni-Husain, Phillip Kite, Henry Mander, Ross Munro and Russell Willings, as well as former Managing Partner Richard Peters and Senior Associate Claire Robey.  "