The following Arbitration guidance note Produced in partnership with Tameka Davis LLB, LLM, MCIArb of Conyers Dill & Pearman provides comprehensive and up to date legal information covering:
This Practice Note considers the recognition and enforcement of arbitral awards in the British Virgin Islands (BVI).
On 1 October 2014, the Arbitration Act 2013 (the Arbitration Act 2013) came into force in the BVI. The Arbitration Act 2013 replaced the Arbitration Ordinance 1976 (the old Act) and is a modern arbitration statute. The Arbitration Act 2013 was designed to remedy the shortcomings of the old Act. It adopted the UNCITRAL Model Law, subject to some limited modifications and supplementation. As might be expected for a statute grounded in the concept of comity, the Arbitration Act 2013 expressly provides that in construing its terms the courts must consider its international origin and the need to promote uniformity in its application and the observance of good faith.
As a further complement to the implementation of the Arbitration Act 2013, on 25 May 2014 the United Kingdom (after liaising with the Governor’s Office and the Foreign and Commonwealth Office) extended the Convention on the Recognition and Enforcement of Foreign Arbitral Awards, New York 1958 (the New York Convention) to the BVI. The Arbitration Act 2013 complies with the requirements of the New York Convention and awards from the BVI are enforceable in other New York Convention states. This
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