schemes of arrangement.
It is also possible for receivers to be appointed over BVI
companies (either by the BVI court or by a creditor of the company
with suitable security).
Plan of Arrangement
A Plan of Arrangement is initiated by the director(s) of a
company or, if the company is in voluntary liquidation, by the
voluntary liquidator. There is no requirement for a company to be
insolvent before a Plan of Arrangement can be considered
The Plan of Arrangement may permit a company to:
amend its memorandum and articles of association;
reorganise, merge or consolidate, or separate its
businesses;