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Expert Analysis

Cayman Vs. BVI: Assistance In Cross-Border Insolvencies

Law360, New York (August 15, 2013, 9:04 AM EDT) -- The decision earlier this year of Justice Andrew Jones in the Financial Services Division of the Cayman Islands gave a broad interpretation of the assistance that may be available to a foreign insolvency representative at common law. This stands in rather stark contrast to the approach taken in the Commercial Court in the British Virgin Islands, where the common law basis for recognition may have little place in BVI law and where statutory assistance is available only to representatives from a limited number of jurisdictions, that include Hong Kong, as well as the United States....

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