One Love, but Many Rights: British Virgin Islands and the Protection of Minority Shareholders
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McConvill, James (2010) One Love, but Many Rights: British Virgin Islands and the Protection of Minority Shareholders. The Original Law Review, 6 (3). pp. 57-68. ISSN 1449-9053
Abstract
It is commonly assumed that the company law in offshore financial centres, including the British Virgin Islands ('BVI'), is designed solely to provide flexibility for companies. You go offshore because you are jack of the 'nanny states' onshore. It is certainly true that offshore financial centres generally provide greater flexibility for companies and their directors in the manner in which they can conduct the company's affairs. But director worship is not what distinguishes offshore company law from onshore company law. Offshore financial centres are not only taking steps to ensure they remain responsible jurisdictions with comprehensive anti-money laundering and terrorist financing initiatives, many are also moving to codify and expand the rights of minority shareholders. As will be highlighted in this article, the BVI has led the way in this regard, with a flexible companies statute that is robust in its protection of minority shareholders.
| Item type | Article |
| URI | https://vuir.vu.edu.au/id/eprint/7005 |
| Official URL | http://search.informit.com.au/fullText;dn=63050346... |
| Subjects | Historical > Faculty/School/Research Centre/Department > School of Law Historical > FOR Classification > 1801 Law Historical > SEO Classification > 9404 Justice and the Law |
| Keywords | ResPubID21007, corporation law, British Virgin Islands, financial services industry, bankruptcy, corporate governance, law and legislation, minority stockholders, legal status |
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