The BVI House of Assembly has passed a Bill allowing the BVI court to grant interim relief in support of foreign proceedings. The so-called ‘Black Swan’ Bill, expected to come into force early this year, reverses the legal position established in May 2020 in the Broad Idea v Convoy Collateral case. In the case, the Eastern Caribbean Court of Appeal ruled that the BVI court lacked jurisdiction to grant a free-standing freezing injunction against a BVI company that was not a party to substantive proceedings anywhere in the world.
News Source：【Walkers 2020/12/31】