Receivership Expertise in BVI | Deloitte in British Virgin Islands | Financial Advisory Services has been added to your bookmarks.
Receivership Expertise in British Virgin Islands
We have significant receivership experience including the capability to rapidly replace incumbent directors throughout a corporate structure to obtain control of underlying structures and assets.
Deloitte has global reach with practitioners in over 150 countries enabling us to deploy teams on the ground to secure and realise assets at short notice. Our network connects us with potential purchasers of distressed assets leading to timely assets sales and subsequent distributions to our appointors.
In addition, our global network has teams of forensic specialists who we utilise to assist with forensic analyses and supporting asset tracing components of assignments.
- Receivership case study #1
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- Receivership case study #2
- Receivership case study #3
- Our network
Global Strength. Local Delivery.
Our global presence allows us to complement our local team with the skills and relevant industry expertise of highly qualified professionals across the globe. This enables us to seamlessly perform large and complex cross-border insolvencies and restructuring.
Receivership case study #1
A court appointed receivership over shares of a BVI holding company (“HoldCo”) that owned subsidiaries in various jurisdictions including the Cayman Islands and throughout South East Asia. The debtor owed our client c. $8m.
We worked with BVI legal advisors to obtain a broad court appointment order, including the right to vote the shares of HoldCo. We engaged and managed legal advisors in other relevant jurisdictions to formalise our strategy of taking control of the group structure to successfully secure a rapid settlement for our client.
Receivership case study #2
A court appointed receivership over the shares of a BVI holding company that owned 100% of the share capital of subsidiaries in multiple jurisdictions with underlying assets in the CIS.
The debtor owed our client c. $16m and was subject to bank enforcement action. The Receiver engaged a cross border team of legal advisors to implement a combination of Norwich Pharmacal Orders and Chabra Freezing Injunctions across three jurisdictions. The Receiver successfully secured documentation enabling the ability to take control of related corporate structures, to progress the securing of assets for realisation.
Receivership case study #3
An administrative receivership appointment jointly with Deloitte’s London office by a fixed and floating chargeholder. The appointment was over a BVI company that owned and operated fourteen hotels in England and Wales and five hotels in Scotland through a corporate structure.
The receivers worked with the lender and legal advisors in the UK and BVI to change directors to various entities in the group structure to obtain control of those entities. Ultimate successful strategy was to effect a group restructure by loan reclassification and tranching, novation of intercompany loans, write off of intercompany loans, debt for equity swaps and sale of shareholdings to related companies in the structure.
Upon completion of the restructure, the BVI receiver was then appointed as voluntary liquidator to liquidate the legacy corporate structure in the BVI.
Deloitte has a strong presence in the Caribbean and Bermuda, with more than 500 professionals dedicated to bringing their talents to bear on our clients’ unique issues. The Deloitte Caribbean and Bermuda countries serves the English-speaking Caribbean from offices in The Bahamas, Barbados, Bermuda, British and United States Virgin Islands, Cayman Islands, and Trinidad and Tobago. Though we operate in multiple countries, our professionals have a single focus: to help clients navigate their business challenges and achieve success.