BRITISH VIRGIN ISLANDS
HIGH COURT (COMMERCIAL DIVISION)
BLACK SWAN JURISDICTION – WHETHER NON CAUSE OF ACTION DEFENDANT IS TO BE ENJOINED FROM DEALING IN SHARES – ASSETS OUTSIDE THE JURISDICTION – DISCLOSURE
The case concerns applications for freezing injunctions arising out of disputes relating to the ownership of assets originally held by two Cypriot companies in which the Applicant held a beneficial interest. In the proceedings against Golante Management Ltd, a freezing order was sought pursuant to the Court’s Black Swan jurisdiction in aid of an injunction granted in Cyprus but subsequently discharged. On the ex parte and inter partes applications, the Commercial Judge declined to grant the order sought on the grounds that if the home Court did not see fit to keep in place injunctive relief, then there was no good reason why the BVI Court should act where the home Court had declined to do so.