Banking (Special Resolution Regime) Act 2016
This Act was passed in the first quarter of 2016 but has not yet become effective. It is a lengthy Act with a number of separate and detailed statutory mechanisms…
Trustee (Special Provisions) Amendment Act 2014
2014 also saw the introduction of the Trustee (Special Provisions) Amendment Act 2014 (the “Act”) which provides statutory clarity and certainty with respect to the powers settlors can reserve or grant over a trust without calling into question the validity of the trust structure. The powers enshrined in this legislation are expected to attract a […]
Can a Registered Office Resign?
In the case of Abu Dhabi Commercial Bank PJSC v Algosaibi Trading Services Limited [2014] SC (Bda) 71 Com (12 September 2014), the Chief Justice delivered an ex tempore judgment which clarified what the position is when a registered office purports to resign. It confirmed the traditional view held by many commercial practitioners that section […]
Ribaroff v Williams & Others
In January this year we acted for the Plaintiff against five Defendants in a claim for damages for breach of a Sale & Purchase Agreement of a Bermudian fund management company. The Defendants were directors and shareholders of the fund management company and had negotiated a staged management buyout from the Plaintiff vendor. The Plaintiff […]
Staying Power
Article 8 UNCITRAL Model Law In September of this year we acted on a very significant international commercial dispute where the question arose as to whether proceedings in Bermuda would be stayed pending the determination of arbitral proceedings in Canada which would deal with the central question of whether a previous settlement agreement extended to […]
In the Matter of an Application for Information about a Trust
In its 2014 decision, the Court of Appeal considered Chief Justice Kawaley’s first instance 2013 decision to order the production of trust documents to a beneficiary notwithstanding that the trust deed contained an information control mechanism designed to prevent disclosure of financial information unless the Protector (who was also the principal beneficiary) consented.
Important Court of Appeal Decision – Kader
An important decision came from the Court of Appeal this year relating to the issue of whether a party has submitted to the jurisdiction in proceedings outside of Bermuda. In Kader Holdings Company Limited v Desarrollo Inmoniliario Negocios Industriales De Alta Technologia De Hermosilio, S.A. De CV [2013] CA (Bda) 13 Civ (10 March 2014), […]
2014 Privy Council Cases of Note: The Singularis Holdings case and the Saad Investments case
In the world of cross border insolvencies, two important judgments in the Privy Council have clarified three issues which have great significance, not just for Bermuda, but all offshore jurisdictions which have insolvency provisions based on the English model, whether 1948 Companies Act or Insolvency Act 1986. The facts have been well reported and do […]
The Relevance of International Legal Obligations Relating to Environmental Impact Assessments to Bermuda
The United Kingdom (the “UK”) is party to many international treaty obligations but how far do these international treaty obligations extend to UK territories? This question was considered in the recent case of BEST v Minister of Home Affairs [2014] SC (Bda) 61 App (6 August 2014). Given the legal autonomy Bermuda has to the […]
TIEA requests under the International Cooperation (Tax Information Exchange Agreements) Act 2005
The Ministry of Finance v E,F,H &O [2014] SC (Bda) Civ 43 (30 May 2014) The Ministry of Finance v O [2014] SC (Bda) 60 Civ (17 July 2014)
2014 Throne Speech: A brief summary of the Parliamentary Agenda
The Governor George Fergusson delivered the annual Throne Speech on November 7, laying out the Bermuda Government’s plans for the upcoming year. Economic recovery will continue to be the national priority, the Government announced. This speech marked the opening of a new parliamentary year, the third under the new One Bermuda Alliance Government and the […]
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