business
Virgin Islands Supreme Court Reverses BlackRock Dismissal in Lawsuit
The Supreme Court of the U.S. Virgin Islands reversed the dismissal of BlackRock, Inc. on personal jurisdiction grounds in a case filed by Altisource Asset Management Corporation. The ruling addressed claims under business tort and CICO statutes in the Superior Court of the U.S. Virgin Islands.
May 21, 7:47 AM·1m read1 source
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The Supreme Court of the U.S. Virgin Islands reversed the dismissal of BlackRock, Inc. on personal jurisdiction grounds in litigation brought by Altisource Asset Management Corporation. The case, filed in the Superior Court of the U.S. Virgin Islands, Division of St.
Croix, involves claims for damages under business tort and CICO statutes against BlackRock and PIMCO. The case number is SX-2018-CV-146.
18, 2025, the Supreme Court issued an opinion in Erbey Holding Corp. v. BlackRock Financial Management, Inc. The court reversed the portion of the Superior Court’s December 4, 2023 opinion that had dismissed claims against BlackRock, Inc. for lack of personal jurisdiction.
The Supreme Court concluded that the Superior Court had correctly determined certain BlackRock affiliates consented to personal jurisdiction in the Virgin Islands, but erred by not imputing that consent to BlackRock, Inc. The PIMCO defendants’ petition challenging jurisdiction was denied as moot.
The ruling returns BlackRock, Inc. as a defendant in the ongoing litigation.
