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Michael J. BURNS

Managing Partner | British Virgin Islands

Email

Tel

+1 284 852 5318

VCard

Address

Jayla Place, Wickham's Cay I
 PO Box 3190
 Road Town
 Tortola, VG1110
 British Virgin Islands

 

profile

Michael Burns is the Managing Partner and Head of the Corporate and Commercial department in the British Virgin Islands (BVI). Michael is also the Group Team Leader and Local Team Leader of the Segregated Accounts Team. In addition to his practice in the BVI, Michael is Group General Counsel and a member of both the Group Management Committee and Group Executive Board. Michael joined Appleby as an associate in June 1992 and became a partner in April 1998.

Michael specialises in all aspects of corporate and commercial law with an emphasis on corporate finance, insurance, alternative risk financing (including captive insurance company regulation and formation), segregated portfolio companies, private offerings of debt and equity securities, and public offerings of debt and equity securities. Michael was instrumental in establishing Appleby’s top-ranking insurance team in the BVI.

Michael is regularly instructed by insurance companies, investment banks, financial institutions and law firms across the globe. Michael is also a frequent commentator on British Virgin Islands law and the offshore world, having written numerous articles in leading international trade journals and regularly speaking at international and local conferences and other venues.

Michael is regarded as one of the leading commercial lawyers in the BVI, due to his corporate and finance transactional experience combined with a strong insurance background. Chambers Global recognises Michael for his “strong insurance experience” which is “useful for dealing with the large number of captive insurance entities in the BVI”. PLC Which Lawyer? endorsed Michael for his insurance work, one of only two lawyers in the BVI to receive this accolade. IFLR 1000 recognises Michael as a leading lawyer for corporate and finance work in the BVI, and Legal 500 notes Michael’s work in corporate finance and offerings of debt and equity securities.

Michael is a member of the Bermuda Bar, the Canadian Bar Association and the International Bar Association. He has been a Fellow of the Institute of Canadian Bankers since 1982.

Michael is a member of the BVI International Finance Centre's TEAM BVI - a select group of private and public sector members working together to promote the BVI's financial products and services and to represent the BVI on the international stage.

Michael served as secretary to the Bermuda International Business Association (now called Business Bermuda) Legislative Change Committee for five years, followed by three years as the Appleby representative on the Committee. He also served as special representative of the Committee in formulating, developing, drafting and negotiating on behalf of the Committee with the Bermuda Ministry of Finance and Attorney-General’s Chambers regarding the Segregated Accounts Companies Act 2000 and its subsequent amendment. Michael is currently working on the development of Incorporated Segregated Accounts Companies (ISAC) draft legislation for Bermuda.

expertise

Some recent examples of work include advising:

  • A global bank providing finance to a BVI insurance business structured as a segregated portfolio company
  • A BVI insurance subsidiary of a global bank on compliance of certain structured finance products with BVI insurance law
  • A US-based global bank on a multi-million dollar financing to a BVI captive insurance vehicle
  • A global insurance company on BVI insurance law compliance, in relation to a complex financing mechanism involving a BVI subsidiary
  • The New York office of a global investment bank on a US$1.5 billion lending facility (in three tranches) to a BVI subsidiary of a major US corporation to facilitate expansion in Latin America
  • A major oil and gas company on the acquisition of two oil rigs offshore India by a BVI-incorporated subsidiary, with estimated value of US$5 billion
  • A Latin American telecommunications company raising in excess of US$170 billion through a notes issue, guaranteed by a number of BVI holding and subsidiary companies
  • An exploration and production company on the BVI component of a US$200 million multi-jurisdictional group restructuring involving, inter alia, the transfer of shares in BVI group companies to newly established UK group companies
  • Research in Motion (RiM), developer and distributor of the BlackBerry smartphone, on a Master Supply Agreement, BlackBerry Licence Source Agreement and related documents, as well as providing advice on a range of BVI commercial law issues in relation to its business with telecommunications providers and end-users in the BVI
  • An Eastern European client in relation to a share reorganisation and redemption scheme involving a BVI company worth US$200 million

teams

  • Alternative Risk Financing
  • Public & Private Offerings of Debt & Equity

education

Michael earned a B.A. from Mount Alison University, Canada, an LL.B. and a Master of Business Administration from Dalhousie University, Canada, and a Master of Law from the University of Cambridge, England.