In Caribbean and Channel Islands statutory and procedural updates:
- BVI Creditor Restorations (AS PNB Banka): The BVI Commercial Court's ruling in AS PNB Banka (in liquidation) v Registrar of Corporate Affairs (BVIHC(COM) 2025/0234) continues to streamline recovery. Where a creditor petitions to restore a dissolved BVI company and place it immediately into insolvent liquidation, the appointment of a local Registered Agent (RA) is not required.
- BVI Unrecognised Costs Orders (JJW Hotels v Rhodes): The BVI Court confirmed that unrecognised foreign judicial costs orders (e.g., from Guernsey or English courts) cannot ground a statutory demand without a prior domestic recognition order in the BVI (Drelle principle).
- Jersey Trust Priority (Eighth Amendment): Under the newly in-force Article 43A, secured lender interests over Jersey trust property take absolute priority over any equitable lien of a current or former trustee.
- Sources: Access procedural breakdowns on Ogier's BVI Restoration Ruling Analysis, Mourant's BVI Foreign Judgments Update, and Carey Olsen's Jersey Trust Law Amendment Briefing.
BVI & Jersey: Restorations, Security Priority, and Foreign Costs Orders