Monday, November 2 - The newly opened $3.76 million Commercial Court Building has been hailed as a milestone in the development of the Territory and one which reinforces its reputation among its Caribbean and international counterparts.
At Friday’s official opening of the facility which will house the Commercial Division of the Eastern Caribbean Supreme Court (ECSC), all of the speakers embraced the development and touted its significance for the BVI and other members of the Organisation of Eastern Caribbean States (OECS).
His Excellency Governor David Pearey noted the changing global arena in which the financial services industry operates and the international standards to which it must conform. “The completion of this court puts a further critical piece in place of this complex jigsaw of matching and surpassing international expectations,” he stated, adding that the ultimate goal was “to create in the BVI a court that would be recognised by the international lawyers who travel to these shores as being equal of any in which they work.”
In his remarks to the close to 200 people gathered for the ceremony, Premier and Minister of Finance Honourable Ralph T. O’Neal, OBE described the occasion as “A red-letter day in the development of these Virgin Islands, especially as we continue to forge ahead to provide the infrastructure the financial services industry needs to do business in this jurisdiction.”
Expressing pride for the BVI’s selection as the headquarters for the Commercial Division of the ECSC, Honourable O’Neal said the facility is vital to the development of the financial sector in other OECS member states.
“It is also fitting that as we mark our 25th year as an Associate Member of the Organisation of Eastern Caribbean States that our approximately $3.76 million investment is being realised in this landmark which will become an institution that will be available to all members of the OECS,” the Premier said.
He also expressed the hope that the BVI will become renowned for justice. “I appeal to all Virgin Islanders and those who have come in to live amongst us to support our court system and that the court demonstrates to the world that it is able to settle major commercial disputes and give assurance that justice will be meted out to everyone,” Honourable O’Neal said.
Acting Justice of Appeal of the ECSC, His Lordship, the Honourable Justice Michael Gordon QC revealed that since the establishment of the court in May, there have been six full trials, 45 heavy applications and 120 short applications. “A country is dependent on the delivery of justice; justice must be delivered in a timely manner and if it is not then it ceases to be what the people of the country require. Your commercial division has come just in time. Notwithstanding that the offshore industry demanded it; you people are entitled to it.”
Commercial Court Judge, His Lordship, the Honourable Justice Edward Bannister, QC termed the court an “extraordinary achievement by any standard.” Recognising the immense responsibility entrusted to him, Justice Bannister gave assurances that the facility will not become a white elephant but rather, will be exploited for the benefit of the BVI and the wider OECS jurisdiction.
Member of the BVI Bar Association, Mr. Gerard Farara, QC described the opening of the Commercial Court Building as a crowning achievement and a major milestone in enhancing the delivery of justice in the OECS. “I have long held the view that the Virgin Islands, because of its geographic location, vibrant economy, strong financial services sector and stable government is best positioned to become the centre for dispute resolution in the OECS and even the wider Caribbean, particularly in relation to commercial matters where the timely resolution of disputes among business people is of critical importance.”
The Commercial Division of the Eastern Caribbean Supreme Court is the first purpose built court in the Eastern Caribbean. A number of technological and environmentally friendly initiatives were incorporated in the creation of the state of the art building including the use of sound buffers for the air condition system, solar reflective glass to reduce heat gain, sound insulated windows and induction loop and infrared hearing assistance to help those with hearing impairments.
As part of the ECSC, the commercial court will adhere to the mission of its parent body, which is to provide for members a system of justice that is accountable and independent and administered by officers in a prompt, fair, efficient and effective manner.
British Virgin Islands News