British Virgin Islands

Thursday, Oct 29, 2020

Lawmakers approved the Charging Orders Act, to help empower the High Court to enforce a payment order through assets such as land, shares

Lawmakers approved the Charging Orders Act, to help empower the High Court to enforce a payment order through assets such as land, shares

The bill would help empower the High Court to enforce a payment order through assets such as land, shares from bodies incorporated in the territory, and titles to any motor vessel or yacht registered here, among other property.
“Some judgement debtors seek to avoid the enforcements of judgments of the High Court,” Attorney General Baba Aziz explained. “This bill is intended to confer jurisdiction on the court to make orders imposing a charge on assets which are directly or indirectly owned or controled by a judgement debtor.”

The Charging Orders Act doesn’t just codify the procedure for collecting court-ordered debts, the attorney general said: It also sends a message to those looking to dodge paying.

“The enactment of this bill will demonstrate that the territory is not a haven for recalcitrant debtors and those who would seek to evade justice by means of, in part, the use of asset protection structures,” Mr. Aziz said.
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