The Grand Court’s decision in North Sound Pharmaceuticals Inc. (in Official Liquidation) (FSD 110 of 2022) on 21 February 2024 provides a useful reminder of the applicable process and principles in appealing a liquidator’s rejection of a creditor’s proof of debt.
Trusts: Non-intervention in the Isle of Man
The recent Isle of Man judgment of the Staff of Government Division (SGD) in the case of A and B v C and D – 2DS 2023/25 emphasises the importance of the non-intervention principle in trust proceedings and provides us with another interesting case to add to the non-intervention cannon.
Bermuda Privacy Law Compliance: Pitfalls to Avoid
Although members of the Chamber are aware that Bermuda’s Personal Information Protection Act, 2016 ( PIPA ) will come into full force on 1 January 2025, many members may not appreciate some of the more challenging compliance requirements of PIPA. In an effort to help members avoid some common pitfalls associated with PIPA compliance, the following is a brief review of three of PIPA’s compliance requirements that many organizations should devote particular attention to.
Bermuda: An Introduction to Dispute Resolution in 2024
International business is the primary area of economic activity in Bermuda, as a result of not just a favourable tax regime, but also because of its political and legal stability, regulatory framework, proximity to New York (2-hour flight) and London (7-hour flight), talented work force, and natural beauty.
Disciplinary Committees and the requirement of fairness and impartiality
Every company should ensure that it has established in its internal policies and procedures, a fair and impartial disciplinary procedure in line with the rules of natural justice. The benefit this has is that employees feel secure, respected, remain productive and trust the company in the event something goes wrong; and things do go wrong sometimes. It is only then that the company is critically assessed by its employees who are inevitably watching what treatment is meted out against their fellow colleague.
Preserving wealth in a Bermuda dynastic trust
The Vanderbilt family gained prominence through shipping and railroad empires and eventually various other areas of industry and philanthropy.
Bermuda’s promising telecommunications future
Last year was a stellar one for Bermuda’s positioning in the global array of telecommunications service providers. From home and work, across global terrestrial networks, to undersea cables and satellite laser communications, Bermuda’s telco landscape is developing well.
In August 2022, amendments to the Cayman Islands’ Companies Act (Act) became effective, introducing a new pathway for companies to restructure their affairs in an efficient manner, whilst ensuring that creditors’ interests are protected.
Chambers Insurance & Reinsurance Guide 2024: Bermuda
This guide provides the latest information on sources of insurance and reinsurance law, overseas-based insurers or reinsurers, making an insurance contract, intermediary involvement, alternative risk transfer (ART) transactions, warranties, conditions precedent, insurance disputes and insurtech.
