Although there is no clear law allowing or prohibiting third party funding, the Courts of the BVI have demonstrated a willingness to uphold litigation funding arrangements provided they do not offend common law principles of champerty and maintenance.
Examples can be found in cases where liquidators pursued claims for creditors with the help of a third party funder which they otherwise would not have been able to bring. Such funding arrangements have been approved by the BVI court at the outset of the claim.
The court system is ruled by the Eastern Caribbean Supreme Court Act (the ESCA), recently supplemented by the Legal Profession Act 2015 (the LPA) with relevant Section 44 relating to remuneration. In the absence of its own law, it will turn to the current practice in the English High Court (LPA Section 11).
Without clear judicial or legislative guidance on the scope of third party funding in the BVI, therefore, the principles developed in England and Wales which determine lawful third party funding from the torts of champerty and maintenance, are likely to be persuasive.