Litigation continues to be the dominant method of dispute resolution in both the Cayman Islands and the British Virgin Islands, however arbitration and mediation are increasingly prevalent in both jurisdictions as parties become more familiar with the potential benefits of these alternative methods of dispute resolution.
Campbells is at the forefront of arbitration and mediation in both jurisdictions. We have a number of attorneys with highly specialised international arbitration and mediation experience gained onshore in major arbitration and mediation centres.
The enactment of the Arbitration Act, 2012 in the Cayman Islands and Virgin Islands Arbitration Act 2013 in the BVI, both based on the UNCITRAL Model Law, modernised the arbitration framework. The BVI statute established the British Virgin Islands International Arbitration Centre, which opened in 2016. Both the Cayman Islands and the BVI are pro-arbitration jurisdictions, with a legal framework and Government policies aimed at encouraging arbitration as an alternative to litigation.
We have experience of arbitration and mediation both as counsel for parties and as qualified and accredited arbitrators and mediators. We also represent clients in connection with the enforcement of arbitral awards in the Cayman Islands and the BVI, both of which are parties to the 1958 New York Convention on the Recognition and Enforcement of Arbitral Awards.
They are very client-focused and come up with workable solutions.
The potential advantages of arbitration are manifold. Chiefly, clients are attracted by the enforceability of arbitral awards, the confidentiality of the process, and the flexible and tailored procedure that it offers. Further general information concerning arbitration in the Cayman Islands and its potential benefits is available here. For further information, Campbells attorneys authored the Cayman and BVI chapters of the 4th Edition of Global Legal Insights: International Arbitration, both of which are accessible online at no cost.
Recent Work Highlights
- Representing a major international accounting firm in defence of professional liability claims in a Cayman-seated AAA arbitration concerning claims in excess of US$270 million.
- Acting for a major audit firm in Cayman-seated arbitration proceedings in defence of claims for in excess of US$150 million concerning allegations of professional liability following the collapse of an investment fund.
- Acting for the family office of an ultra-high net worth individual in a Cayman-seated AAA arbitration concerning Cayman Islands real estate.
Partner Andrew Pullinger has extensive experience in the area of international commercial arbitration gained in London, Australia and the Cayman Islands, and has conducted many institutional and ad hoc arbitrations under a variety of different rules (including ICC, LCIA, AAA and UNCITRAL). Andrew holds a post-graduate diploma in international arbitration from the School of International Arbitration Queen Mary, University of London. He is currently the Co-Vice-Chair of the Caribbean Branch of the Chartered Institute of Arbitrators (CIArb) and the Chair of the Cayman Islands Chapter of CIArb.