Legal Business

Harneys: British Virgin Islands positioned to become an international arbitration centre

Harneys: British Virgin Islands positioned to become an international arbitration centre

Phillip Kite

Global head of litigation and insolvency, Harneys

phillip.kite@harneys.com

The British Virgin Islands’ (BVI) Arbitration Act 2013 came into force on 1 October 2014. It is a landmark piece of legislation which is expected to propel alternative dispute resolution in the BVI into high gear. The BVI is now well-positioned to become a leading jurisdiction for international arbitration. The Act incorporates these main features:

Legal Business

Singapore: QFLP renewals, hires for Milbank and a new office for Harneys

Singapore has over the past month dominated much of the legal agenda in Asia, starting with the renewal process early in March of its sought-after qualifying foreign legal practice (QFLP) licences.

Of the original six firms that were awarded a QFLP in 2008 and which came up for five-year renewal, Allen & Overy (A&O), Clifford Chance, Latham & Watkins and Norton Rose Fulbright had their licences renewed for another five years.