Why was the decision taken to establish the court and what process was followed?
LPL: It is accepted that one of the important elements necessary for the success of any financial services sector is a well structured, organized and efficiently run judicial system; one staffed by an independent judiciary responsive to the litigation demands of such an industry. The BVI, as a world-renowned jurisdiction for the provision of offshore financial services, is no different in this respect to any other offshore jurisdiction. In the BVI, the need for a judicial system and judges sensitive to this need and cognisant of its important role in providing that level of judicial service, has been well recognized for some time. These issues have been considered and talked about by successive governments and the private sector alike, as detailed in the “Report of the Committee to Review the Courts System in the British Virgin Islands “The Courts Systems Review Committee” July 2004″ Work towards the establishment of a Commercial Court really began in earnest when the then Executive Co
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