2019 US Virgin Islands Code
Title 11 - Commerce, Technology and Trade
Chapter 30 - Foreign Money Claims
§ 1542. Effect of currency revalorizations

  • (a) If, after an obligation is expressed or a loss is incurred in a foreign money, the country issuing or adopting that money substituted a new money in place of that money, the obligation or the loss is treated as if expressed or incurred in the new money at the rate of conversion the issuing country establishes for the payment of like obligations or losses denominated in the former money.

  • (b) If substitution under subsection (a) of this section occurs after a judgment or award is entered on a foreign-money claim, the court or arbitrator, as the case may be, shall have jurisdiction to, and shall, amend the judgment or award by a like conversion of the former money.

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