Black Swan flies & The Siskina lists: Brian Lacy reports on a key decision on freestanding freezing injunctions
- In a recent decision, the Privy Council has upheld the British Virgin Islands’ freestanding freezing injunctions.
- In doing so, it confirmed (obiter) the jurisdiction of the decision in Black Swan, allowing freezing injunctions against BVI respondents to foreign proceedings in aid of potential future enforcement.
On 4 October 2021, the Privy Council handed down its much-anticipated judgment in Broad Idea International Ltd v Convoy Collateral Ltd (British Virgin Islands); Convoy Collateral Ltd v Cho Kwai Chee (also known as Cho Kwai Chee Roy) (British Virgin Islands) [2021] UKPC 24. By a four to three majority, the board:
(1) upheld (albeit obiter) the Black Swan jurisdiction, which, since the original judgment by Bannister J in the Eastern Caribbean Supreme Court in 2010 (Black Swan Investment ISA v Harvest View Limited and another [2010] ECSCJ No. 357) had been a vital tool in aid of judgment and award enforcement in the British Virgin Islands (BVI), permitting freezing injunctions against BVI respondents to foreign proceedings
