01-651 JP Morgan Chase Bank v. Traffic Stream Infrastructure Ltd.

By: dmc-admin//July 17, 2002//

By: dmc-admin//July 17, 2002//

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The BVI Constitution was established by the Crown of the United Kingdom. The United Kingdom exercises pervasive authority over the BVI, e.g., the Queen may annul any BVI statute and make laws for the BVI. The Crown’s representatives have imposed laws and international obligations on the BVI. In a practical sense, then, the statutes permitting incorporation in the BVI are enacted in the exercise of the United Kingdom’s political authority, and it seems fair to regard a BVI company as a citizen or subject of this ultimate political authority.

251 F.3d 334, reversed.

Local effect:

The decision is consistent with current Seventh Circuit law, Wilson v. Humphreys (Cayman) Ltd., 916 F.2d 1239 (7thCir. 1990).

Souter, J.

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