Virgin Islands Agreed Order and Final Judgment — Awarding Forfeiture is a legal process involving the Virgin Islands jurisdiction. It refers to the court's decision to seize and confiscate assets, funds, or properties due to various legal violations. This forfeiture order is issued by the court after a thorough examination of the evidence and compliance with the applicable laws. Often, this judgment arises from the involvement of these assets in criminal activities, money laundering, drug trafficking, fraud, or other illicit activities. There are different types of the Virgin Islands Agreed Order and Final Judgment — Awarding Forfeiture, which are as follows: 1. Civil Forfeiture: This type of order and judgment is applied when the assets or properties are involved in civil offenses, such as tax evasion, fraud, or violation of the Consumer Protection Act. In such cases, individuals or entities facing civil charges may have their assets forfeited to the Virgin Islands government. 2. Criminal Forfeiture: In criminal cases, the court can issue an Agreed Order and Final Judgment — Awarding Forfeiture when assets or properties are connected to serious offenses like drug trafficking, money laundering, organized crime, or other criminal activities. This judgment ensures that these ill-gotten gains are confiscated from the convicted individuals or organizations. 3. Equitable Forfeiture: Equitable forfeiture refers to the court's decision to seize assets that have been acquired through unlawful means, even if no criminal charge has been filed against the owner. Such forfeiture can occur when there is sufficient evidence to prove that the assets are proceeds of illegal activities, and it is in the interest of justice to confiscate them. 4. Administrative Forfeiture: Administrative forfeiture is a more streamlined process, allowing the government agency to seize assets without initiating legal proceedings. It often involves cases where the asset's value is below a certain threshold, making it impractical to pursue judicial forfeiture. However, individuals still have the right to challenge the forfeiture in court if they believe it was unjust. In conclusion, the Virgin Islands Agreed Order and Final Judgment — Awarding Forfeiture is a significant legal mechanism used to seize and confiscate assets or properties related to criminal or civil offenses in the Virgin Islands jurisdiction. Understanding the various types of forfeiture is crucial to comprehend the diverse scenarios under which these orders are issued.
Virgin Islands Agreed Order and Final Judgment - Awarding Forfeiture
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Post-judgment interest is provided for under the Judgments Act at 5% per year from judgment until payment.
Under the Judgments Act 1907, domestic judgment debts carry interest at a rate of 5% a year from the date of judgment until satisfaction of the debt. Foreign judgments will carry the same rate of interest under the Judgements Act, unless the BVI court decides to accept a rate of interest applied by the foreign court.
Chapter 18, Title 24, Section 472 of the V. I. Code states that every employer who is closing a facility shall at least 90 days prior to the Plant Closing give advance Notification to the Commissioner of Labor, any affected employees, and if the employees are represented by a Labor Union to such Union.
Contract and tort claims: six years from the date on which the cause of action accrued. Claims brought in respect of deeds: 12 years from the date of breach of the obligation under the deed.
A foreign judgment that cannot be registered under the Reciprocal Enforcement of Judgments Act 1922 can be enforced by way of a claim. The cause of action is one of a simple contract debt, based on the foreign judgment, and the claim is commenced like any other claim originating in the BVI.
Post-judgment interest is provided for under the Judgments Act at 5% per year from judgment until payment.
In ance with Supreme Court Rule 201(a), an Attorney who is not regularly or specially admitted to practice law in the Virgin Islands may be specially admitted, Pro Hac Vice. This requires a motion of an attorney who is regularly admitted to practice in the Virgin Islands.
