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BVI FINANCE PREMIERES “A BUSINESS BREAK” WEB-BASED SERIES
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BVI Finance today premieres “A Business Break” its new web-based talk show.
The show, hosted by BVI Finance’s Marketing Manager Kareem-Nelson Hull and Marketing and Media Relations Coordinator Binta Jallow, will present topical issues to the financial services industry, create a platform for timely industry insights, as well as engage wider audiences to the purposes and functions of the financial services industry and its practitioners.
The thirty minutes long programme will also feature human interest interviews, allowing the audience to meet the talented professionals that lead within one of the world’s best international business and finance centers.
A Business Break is set to present eight to 10 episodes in its first season. The pilot episode features, Director of the International Affairs Secretariat Najan Christopher and Managing Director of Travelwize, Ltd Luther Butler, in a discussion on traveling during COVID-19. The guests share with the host the BVI’s plans for nationals, Belongers and Permanent Residents re-entering the Territory and goes in-depth on Government parameters for re-entry amidst COVID-19 restrictions, flight plans, and best travel arrangements for safe arrivals to the Territory.
BVI Finances’ newest show adds to its already vibrant digital series. Currently, the BVI Finance Breakfast Forum series and industry specific webinars hosted by CEO Elise Donovan have become favourites of the industry.
A Business Break will release new episodes on Fridays.
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BVI GOVERNMENT ANNOUNCES FURTHER COVID-19 MEASURES & EXTENDS CURFEW
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BVI APPEAL COURT RULES FREEZING INJUNCTION AGAINST BVI COMPANY WAS WRONGLY GRANTED
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In a judgment handed down on Friday 29 May 2020 in Broad Idea International Limited - v - Convoy Collateral Limited (BVICMAP 2019/0026), the Eastern Caribbean Court of Appeal (Pereira CJ, Blenman, Michel JAA) has ruled that the BVI Court cannot grant a free standing freezing injunction against a BVI company where that company is not a party to substantive proceedings either in the BVI or elsewhere. In so deciding, the Court of Appeal has determined that the case of Black Swan
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Investments ISA - v - Harvest View Limited (Claim No BVIHCV 2009/399) ("Black Swan") was wrongly decided. The Court of Appeal also ruled that the assets of a BVI company are not to be considered the assets of its shareholders such that the company's assets may be subject to a freezing injunction.
Walkers Partners Rosalind Nicholson and Murray Laing, along with Associate Catherine O'Connell, acted for the successful Appellant, Broad Idea International Limited. Walkers instructed Richard Morgan QC of Maitland Chambers.
Background
In 2010, Justice Bannister bravely created what is now known as the Black Swan jurisdiction through incremental development of the common law in his judgment in Black Swan Investment ISA v Harvest View Ltd.
The Black Swan jurisdiction provides the British Virgin Islands (BVI) courts with the power to grant an interim freezing order in support of foreign proceedings. It is a key weapon in the British Virgin Island’s arsenal in the fight against fraud. In expanding the freezing injunction jurisdiction Justice Bannister acknowledged the judgment of the Jersey courts in Solvalub Ltd v March Investments Ltd and decided to follow Lord Nicholls’ dissenting judgment in Mercedes Benz v Leiduck in order to ensure that the BVI would not be the black hole into which fraudsters could disappear with their assets. Read Jonathan Addo and Paula Gibbs’ article “No black holes in the British Virgin Islands: the Black Swan jurisdiction” in International Litigation News for more.
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APPLEBY ANNOUNCES 2020 SENIOR PROMOTIONS
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Shana Simmonds, Counsel, Corporate
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Olwyn Barry, Partner, Dispute Resolution
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Law firm Appleby has announced seven senior promotions across six jurisdictions its Corporate and Dispute Resolution teams, of which two are in the British Virgin Islands. Shana Simmonds has been promoted to Counsel in the Corporate team and Olwyn Barry has been promoted to Partner in the Dispute Resolution team.
Simmonds’ practice areas include Corporate Finance, Banking and Asset Finance, Private Client and Intellectual Property. Prior to joining Appleby in 2015, she practiced at other well-established law firms in the BVI where she was regularly instructed by leading financial institutions, law firms and trust companies on a variety of corporate transactions including corporate restructuring, securitisation, initial public offerings, general banking and commercial matters and financial regulated activities.
Barry is currently based in Appleby´s Jersey office where she focuses on BVI disputes, supporting clients in the GMT time zone. Prior to joining Appleby in 2015, she worked as an associate in A&L Goodbody, Dublin in the Commercial Litigation department specialising in contentious insolvency matters and advising on a broad range of commercial disputes, banking litigation and debt enforcement. Barry was admitted as a solicitor of the Eastern Caribbean Supreme Court in 2015.
BVI Finance congratulates Shana Simmonds and Olwyn Barry on their latest accomplishments!
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OBSERVANCE OF WORLD ENVIRONMENT DAY 2020 - 5 June
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The foods we eat, the air we breathe, the water we drink and the climate that makes our planet habitable all come from nature. For instance, each year, marine plants produce more than a half of our atmosphere's oxygen, and a mature tree cleans our air, absorbing 22 kilos of carbon dioxide, releasing oxygen in exchange. Despite all the benefits that our nature give us, we still mistreat it. That is why we need to work on that. That is why we need this Observance.
World Environment Day, hosted by Colombia this 2020, is the most renowned day for environmental action. Since 1974, it has been celebrated every year on 5 June: engaging governments, businesses, celebrities and citizens to focus their efforts on a pressing environmental issue.
This year, the theme is biodiversity – a concern that is both urgent and existential. Recent events, from bushfires in Brazil, the United States, and Australia to locust infestations across East Africa and India– and now, a global disease pandemic – demonstrate the interdependence of humans and the webs of life, in which they exist.
But, do we really know its importance? Click here to learn more.
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FOUR STEPS YOUR COMPANY CAN TAKE TO REDUCE GLOBAL MOBILITY RISKS
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Sending an employee on assignment to another country is financially and administratively burdensome. Many estimates put the cost of employing an expatriate worker at two to three times the cost of compensating a traditional worker. Expenses include those related to visas and work permits, relocations, shadow payrolls, tax equalization, repatriation and more.
For many multinational companies, these costs are simply a necessary part of doing business in our global economy. But during the ongoing coronavirus pandemic, businesses and their employees are reconsidering the benefits and risks of expatriate assignments in light of health concerns, travel restrictions, tax incentives, the rise of remote working and more.
This blog post by Paul Robino of Vistra describes some important steps your organization can take to reduce its global mobility risks. These steps could put your company in a better position to thrive as our global economy recovers. Click here for more.
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BETTER HEALTH IS THE FIRST STEP TO BETTER BUSINESS
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From start to finish, a day in the life of a business leader is often calculated down to the minute. You have meetings to attend, calls to take, data to analyze, report to review, and decisions to make, all for the greater good of moving your business ever forward.
Right?
Notice what wasn’t mentioned as a part of that theoretical day:
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taking care of yourself. Of course, your work-related responsibilities will always be high on your priority list, but your personal health needs to be just as high.
According to the Mayo Clinic, people in executive positions experience health risks due to the nature of their jobs. Long hours on the job often lead to poor sleep, diet, and exercise as well as increases in stress, all of which can result in an increased risk of heart disease, diabetes, depression, and more.
As any flight attendant will tell you, you have to put on your own oxygen mask before you can start to help others. It’s no different when you’re leading a business: You can’t operate at your best if you don’t prioritize your health. Here are four ways you can focus on your personal health while balancing the tasks of a busy executive, provided by CEOWorld Magazine.
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UPCOMING EVENTS
June
BVI Finance Breakfast Forum
Webinar | 17 June | 10:00 a.m
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