A recent British Virgin Islands (BVI) case heard in the England and Wales High Court (EWHC) indicates that offshore trustees without legislative firewall protection may end up being bound by a foreign judgment in a jurisdiction where trust assets are situated, unless they liaise with other interested parties to defend the litigation. The case concerns the long-running litigation between the liquidators of a Russian bank and the bank's former director.
News Source：【McDermott Will & Emery 2021/11/12】