The following Arbitration guidance note Produced in partnership with Tameka Davis of Conyers Dill & Pearman provides comprehensive and up to date legal information covering:
The BVI Arbitration Act 2013 (the BVI Act), effective 1 October 2014, is still in its infancy insofar as impact on BVI arbitration law is concerned. A notable feature of the Act was the establishment of the BVI International Arbitration Centre (the BVI IAC). While the BVI government is committed to ensuring that through the BVI IAC the BVI will become a viable and notable player in international arbitrations, there remain few reported cases where the seat of arbitration for a dispute is the BVI. Consequently, BVI jurisprudence on its supervisory role including a challenge to the arbitral tribunal is limited and will be for the immediate future. However, since the BVI Court is frequently asked to act in order to assist foreign arbitrations, stay proceedings commenced here in favour of arbitration, or to act as an enforcing court to a foreign arbitral award, there is a not an insignificant body of case law on these issues.
In so far as it concerns the power to stay an action in particular, it is case law decided on the new Act which is likely to be most relevant in light of the differences between the old and the new power to grant a stay (see below). This Practice Note highlights the most BVI case on this issue,
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