It was with great pride and a sense of accomplishment when the Territory officially declared the Commercial Court Building open during an impressive ceremony last Friday.

The Court building sits on historic Main Street and tips the Water Front Drive which connects the two major districts of Tortola. At a time when regional leaders are concerned about spending given the economic weight of the global financial crisis, the Virgin Islands has demonstrated political will and determination in fulfilling the process which started in 2006. Many would argue about the decision to transform an already existing building, but when one takes into consideration that Government invested some $3.76 million in the project, it is quite mindboggling to think about the estimated cost of building from the ground up.

The building will house the Commercial Division of the Eastern Caribbean Supreme Court (ECSC), further solidifying the Territory’s commitment to the integration process of the Organisation of Eastern Caribbean States (OECS). Premier Ralph T. O’Neal fittingly referred to the Court as a landmark achievement and a “red letter day” as the Territory marks its 25th year as an Associate Member of the OECS. The investment bodes well for future relations between the Virgin Islands and other countries that forms the OECS.

The edifice also further cements the Virgin Islands as the financial hub of the Caribbean, a unique distinction when one considers the considerable attention being paid to matters of business and economics.

Governor David Pearey noted that the opening of the building is an event of “real significance in the development of the Virgin Islands as a truly self-sustaining economic jurisdiction as well as the realisation of a dream to raise the existing treatment of commercial litigation in the Virgin Islands to a sound system in terms of international best practice for courts”.

However, the real test of confidence in the court lies in the judgments that will flow in the coming years. Justice Edward Bannister, QC has been presiding over the proceedings of the Court since earlier this year and will continue to do so during his tenure. Since the establishment of the court in May, there have been six full trials, 45 heavy applications and 120 short applications.

Governor Pearey was very optimistic that the Court would demonstrate with absolute clarity to the international financial community that the VI is open for business, and is in a position to conduct business, in the most sophisticated of markets and that the services available here are a match for any similar jurisdiction and indeed for many far larger jurisdictions.

Apart from its economic role, the Court will also help to boost jurisprudence, particularly since the Territory has been able to move from the years when a judge visited once a year from Antigua, to the appointment of one judge in 1980, to today where we have three resident judges. The opening of the Commercial Court here, frees up the other two judges to dispense justice in a timely matter. This is specifically important given the growing concerns about the delay of trials in the High Court.

Premier O’Neal appeal to all Virgin Islanders and those who live among us to support the court system as the court demonstrates to the world that they are able to settle major commercial cases and other disputes. He assured that justice will be met for everyone.

The onus is on the people of the Territory to continue to exhibit confidence in the independence of the judicial system.

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