 As an offshore financial centre, the British Virgin Islands has many times more resident companies than citizens, and accordingly the courts spend more time dealing with corporate insolvency and reorganisation.The Insolvency Act largely eschews the rescue culture and emphasises the protection of creditors' rights (and in particular secured creditors' rights) over other stakeholders in a bankruptcy and the rehabilitation and protection of businesses as a going concern.This reflects the large number of structured finance vehicles incorporated in the jurisdiction which employ leveraged finance, but do not otherwise trade or have any employees.