Interest rates are at or near historical lows while at the same time only a limited number of Virgin Islands financial institutions are providing financing for commercial real estate, even to long time creditworthy customers with long histories of investing in commercial real estate. At BoltNagi PC we have seen financial institutions of all sizes from the small local banks to the large national banks curtailing most all financing of commercial real estate due in part to the antiquated banking laws in the Territory and at this point in time we see no relief in the near term.Continue Reading Creative Ways to Finance Commercial Real Estate
May 2012
VI Supreme Court Rules Wives Are Not “Property”
By Laura C. Nagi on
Posted in Family Law & Children's Issues
In the recent precedent-setting decision of Matthew v. Herman (S. Ct. Civ. No. 2009-0074), the Virgin Islands Supreme Court overturned a $125,000 jury award against a man who was sued for breaking up another man’s marriage, ruling the common law principle cited at trial did not apply, was antiquated, and out of step with a majority of United States states and territories.
Continue Reading VI Supreme Court Rules Wives Are Not “Property”
FDIC and SBA Offer Support for New and Aspiring Entrepreneurs
By Tom Bolt on
Posted in Corporate & Financial Services
The Federal Deposit Insurance Corporation (FDIC) and U.S. Small Business Administration (SBA) recently announced new resources to support small businesses across the nation and the U.S. Virgin Islands. FDIC Director for Depositor and Consumer Protection Mark Pearce and SBA’s Deputy Associate Administrator for Entrepreneurial Development Michael Chodos released Money Smart for Small Business, a training curriculum for new and aspiring business owners. Developed in partnership between both agencies, this curriculum is the latest offering in the FDIC’s 10 year old award-winning Money Smart program.Continue Reading FDIC and SBA Offer Support for New and Aspiring Entrepreneurs