Region Area

Barristers

Brian Lacy

Brian Lacy

Ogier, British Virgin Islands

Work Department

Dispute Resolution; Restructuring and Insolvency; Trusts

Position

Partner

Career

Brian is a commercial litigation barrister, specialising in civil fraud, insolvency and trust disputes. He regularly appears in the BVI Commercial Court and the Court of Appeal and works on cross-jurisdictional cases, often involving the Middle East or the FSU. Over the past decade, Brian has been involved in cases across the full range of BVI disputes. Many of Brian's cases have actively developed the law in new and positive ways. His areas of significant expertise include asset tracing, civil fraud, contentious trusts and probate, commercial litigation, restructuring and insolvency, and shareholder disputes. Asset tracing / preservation and enforcement, often involving interim injunctive relief or the appointment of provisional liquidators or receivers. Brian made the first application for the appointment of receivers in aid of an arbitration under the BVI Arbitration Act 2013 in proceedings that ultimately resulted in the successful enforcement of the arbitration award with 100% recovery for the client. Civil fraud - Brian is a Fellow of the International Academy of Financial Crime Litigators, in Basel. He and his team have both the experience and resources to conduct complex substantive fraud proceedings, and currently act for BTA Bank in a US$250 million+ commodities letter of credit fraud perpetrated on the bank. Contentious trusts and probate - Brian regularly advises trustees and beneficiaries. He has particular expertise in complex, cross-border contentious probate matters. Commercial litigation - Brian's past cases include the construction of a limited partnership agreement as to the correct allocation of US$1 billion+ of profit. Restructuring and insolvency - Brian acted for QCOG Constellation, and the provisional liquidators, in the first light-touch liquidation in the BVI. Since that landmark decision in 2019, Brian and his team have worked on multiple light-touch restructurings and schemes of arrangement. Brian also acts for creditors and office holders in formal liquidations, often using the insolvency process as an effective method of judgment and award enforcement. Brian served as director of RISA (the BVI chapter of INSOL) for the maximum four year term. Shareholder disputes - Much of Brian's legal career, in England and in the BVI, has involved unfair prejudice and other forms of shareholder disputes. He successfully represented Microsoft in the first derivative permission claim to be considered by the ECSC Court of Appeal. Admitted in: 2012 - British Virgin Islands 2006 - England and Wales (non practising)

Memberships

RISA (BVI INSOL Chapter) British Virgin Islands Bar Association British Russian Law Association British Ukrainian Law Association British Kazakh Law Association Hon. Society of Lincoln’s Inn (Scholarships: Lord Brougham; Harwicke; and Kennedy) Chancery Bar Association