The purpose of an anti-suit injunction is to restrain respondents from commencing or continuing proceedings in another jurisdiction. Anti-suit injunctions are an important, and frequently required, judicial tool within the BVI. The growing number of international companies registered in the BVI has resulted in a corresponding increase in the number of BVI matters involving multiple jurisdictions. The recent BVI Court of Appeal decision in (1) Kenneth M.
The recent JJB Sports administration highlighted another potential consideration for landlords – namely, the wisdom of company voluntary arrangements (CVAs). JJB went through two failed CVAs prior to going into administration in September.
Introduced by the Corporate Insolvency and Governance Act 2020, the restructuring plans regime set out in Part 26A of the Companies Act 2006 (Plans) has quickly proven a popular route for corporate financial rescue. This is in large part due to the fact that it allows for a plan to be imposed upon dissenting creditor classes in certain circumstances. This is known as "cross-class cramdown".
Welcome to the first issue of Insolvency Matters, our round-up of recent legal developments affecting insolvency and restructuring.
Case round-up