Director of Insolvency Services Assumes Post

The BVI Financial Services Commission is pleased to announce the appointment of Mr. Christopher Hill as the Commission's first Director of Insolvency. Mr. Hill brings to the FSC a broad range of experience in financial services and corporate restructuring in particular. As the Director, Mr. Hill will head up the Insolvency Services Division of the FSC and be responsible for implementing and administering the provisions of the recently passed Insolvency Act, 2003. The Division is tasked with resolving issues relating to insolvent or problem companies and establishing and effecting a regime for the supervision of insolvency practitioners and for the disqualification of Directors in appropriate circumstances. In addition to his responsibility as the Director of Insolvency, Mr. Hill as the Official Receiver will be an officer of the court, carrying out such duties as provided by the legislation.

A graduate of the University of Nice and the University of Aston in Birmingham, Mr. Hill is a qualified chartered accountant and licensed insolvency practitioner. Mr. Hill was formerly a partner in Ernst & Young LLP, most recently a Corporate Finance (Corporate Restructuring) partner in their London office. A member of the Association of Business Recovery Professionals, Mr. Hill has completed a wide range of technical assignments and appointments in the United Kingdom, Eastern Europe and the Far East. For over twenty years Mr. Hill has worked in restructuring and formal insolvency cases at the highest level.
Commenting on his new role with the Financial Services Commission Mr. Hill said: ?The new legislation allows the British Virgin Islands the opportunity to place itself at the very leading edge of restructuring and insolvency regimes in well run offshore financial centres. I am greatly looking forward to working with my colleagues, the legislature and the professional community here to make sure that this happens and that the hard work already done is rewarded. It is a fact of life in any healthy economy that things do go wrong from time to time - insolvencies will occur, but the knowledge that an effective and fair ?safety net? exists can only make the BVI more attractive to investors.?

Managing Director/CEO of the Financial Services Commission, Mr. Robert Mathavious remarked: ?The FSC is extremely happy to be able to add someone of Mr. Hill?s experience and calibre to its Senior Management team. The appointment comes at a very exciting and challenging time with international standards continuously evolving in regulation and corporate governance. We have every confidence in Mr. Hill?s ability to establish the requisite functional, pragmatic and proportionate regime necessary to ensure that this groundbreaking Act places the BVI at the forefront of insolvency legislation and practice in the offshore world.?

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Contact Information

British Virgin Islands Financial Services Commission

Pasea Estate
P.O. Box 418
Road Town, Tortola, VG 1110
British Virgin Islands

Tel: 284-494-1324 or 284-494-4190 GMT – 4:00
Fax: 284-494-5016
Hours: Monday-Friday 8:30a.m. - 4:30p.m.