The seventh edition of The Insolvency Review offers an in-depth review of market conditions and insolvency case developments.
Companies wishing to take advantage of the provisional liquidation regime must first present a winding-up petition to the court under section 161 of the act.
In the recent decision of Re C&J Energy Ltd and another the Supreme Court of Bermuda continued a line of judgments which establish the court's willingness.
Creditors should exercise caution when negotiating payment terms, asset transfers or securitisation transactions with companies which are in
the zone of insolvency. Such transactions are vulnerable
Creditors should exercise caution when negotiating payment terms, asset transfers or securitisation transactions with companies which are in the zone of insolvency.
Kennedys Law LLP
Trustees faced with a "momentous" decision concerning the affairs of a trust are well advised to seek prior sanction from their supervising court.
This article explains how for almost twenty years now, de facto debtor-in-possession, management-led restructurings have been facilitated in Bermuda by reference to this bespoke restructuring regime.
Kennedys Law LLP
The Insurance Amendment (No. 2) Act 2018 (the Act) has been passed in both the House of Assembly and the Senate and now awaits royal assent from the Governor.
Wakefield Quin Limited
A Q&A guide to lending and taking security in Bermuda.
A bold judicial reimagining of the Court's existing power to appoint a provisional liquidator for asset preservation purposes, Bermuda's ‘lighttouch' provisional liquidation ...
Kennedys Law LLP
Bermuda is a self-governing British Overseas Territory. The systems of law administered in Bermuda are local Bermudian legislation, Bermudian common law (as developed from English common law)...
Insolvency law in Bermuda is principally regulated by the Companies Act 1981 and the Companies Rules 1982, supplemented by a wide body of case law.
Bermuda, a leading offshore commercial centre, does not currently have any modern, express statutory provisions relating to recognition and assistance to foreign officeholders.
Harneys' affiliate office Zuill & Co contributed "Bermuda: Restructuring & Insolvency" in The In-House Lawyers, Restructuring & Insolvency Country Comparative Guide.
BeesMont Law Limited
2016 was a rather exciting year for Bermuda from the legislative and regulatory perspective not only for the quantity and quality of developments in this arena...
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 which work in conjunction with one another.
Following our recent advisory on the Bermuda Supreme Court decision in the matter of Up Energy Development Group Limited Supreme Court (Comm) Bda 2016: No. 183...
Following Up Energy Development Group Limited defaulting on convertible notes in January 2016, a petition to wind up the Company was filed in Hong Kong on 29 March 2016.
In total, across the six offshore jurisdictions analysed, there were 211 winding-up petitions filed during 2015, and 113 orders were made as a result.
Our goal is to provide a useful reference tool for clients and practitioners who are interested in the development of case law in each jurisdiction.