Company: VCIG
Filing Date: 2025-09-25
Form Type: F-3
Source: 0001213900-25-091277
Chunk: 55

Company: VCI Global Ltd
Filing Date: 2025-09-25
Form: F-3
Chunk 55
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 Revised) and the Foreign Judgments (Reciprocal Enforcement) Ordinance (As Revised)
does not extend to Israel or the United States of America and thus enforcement by common law is applicable. Under common law, any final
and conclusive money judgment for a definite sum obtained against the debtor in the courts of a foreign jurisdiction is treated by the
BVI courts as a cause of action for debt itself so that no retrial of the issues is necessary provided that in respect of the foreign
judgment:

(i) the U.S. court
issuing the judgment had jurisdiction in the matter and the company either submitted to such jurisdiction or was resident or carrying
on business within such jurisdiction and was duly served with process; recognize or enforce judgments of United States courts obtained
against us or our directors or officers predicated upon the civil liability provisions of the securities laws of the United States or
any state in the United States; or

(ii) the judgment given by
the U.S. court was not in respect of penalties, taxes, fines or similar fiscal or revenue obligations of the company;

(iii) in obtaining judgment
there was no fraud on the part of the person in whose favor judgment was given or on the part of the U.S. court;

(iv) recognition or enforcement
of the judgment in the BVI would not be contrary to public policy; and

(v) the proceedings pursuant
to which judgment was obtained were not contrary to natural justice.

Under BVI law a judgment or order for payment
of a sum of money other than an order for payment of money into a court may be enforced by (a) a charging order; (b) a garnishee
order; (c) a judgment summons; (d) an order for seizure of sale of goods; and (e) the appointment of a receiver.

A party to a judicial proceeding in a foreign
court outside the BVI who has in its favor a non-money judgment, such as a declaratory judgment or an injunction, may, in certain circumstances,
be able to enforce that judgment in the courts of the BVI. This would involve that party bringing fresh proceedings in the BVI in which
the equitable doctrine of estoppel could be relied upon to obtain summary judgment from the BVI court on the basis that it would be an
abuse of process for the claim to be re-litigated. In order to avail itself of the equitable doctrine of estoppel, certain requirements
must be met including: (a) the non-money foreign