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Whilst the BVI are one of the smallest groups of islands in the Caribbean, they are “home” to some 750,000 companies. The law firms on the BVI have enjoyed tremendous success over the years and have attracted significant legal talent to its shores. However, the recent economic downturn has taken its toll on the traditional corporate and banking departments of the firms and many associates have found themselves under-utilized. The firms have risen to the challenge by getting some associates to switch to doing insolvency and restructuring work. This is providing associates with experience in areas which will only help them in the long run – being able to tool and work on refinancing or restructuring a company will enable them to better understand how to put together a deal when the market returns