John Wasty

Bio

John Wasty is Global Practice Group Co-Head of Dispute Resolution and Head of the Dispute Resolution practice in Bermuda

In his Bermuda role, John also leads the Bermuda Insolvency & Restructuring team and the Regulatory Disputes team.

John also leads the Insurance Disputes practice globally.

He specialises in the areas of commercial litigation, restructuring, insolvency litigation, funds litigation and regulatory matters and has represented clients in a wide variety of commercial disputes in Bermuda, London, the US, Europe and Asia as well as insurers, reinsurers, policyholders, captives and brokers in disputes in the London Market, the US, Europe and Asia. He is also frequently involved in major arbitrations in Bermuda and internationally in both commercial and insurance/reinsurance matters.

His complex international and local commercial dispute resolution expertise includes shareholder and joint venture, funds and fund managers, M&A, financial institution, regulatory (particularly Bermuda Monetary Authority, Financial Intelligence Agency and Regulatory Authority of Bermuda) and insolvency disputes and advisory work. John has extensive experience in a broad range of corporate governance matters. He also regularly advises on sanctions related issues.

John frequently advises on schemes of arrangement and complex multi-party restructurings involving multiple jurisdictions.

In the regulatory sphere, John has an extensive body of experience in dealing with the Bermuda Monetary Authority and the Regulatory Authority of Bermuda in relation to AML/ATF, banking/financial institution, telecommunications, insurance and reinsurance, and fund regulation and enforcement issues including regularly advising Bermuda’s largest companies and their management in connection with On-site Investigations, Warning Notices, Decision Notices and appeals of Bermuda Monetary Authority and Regulatory Authority of Bermuda decisions.

John is consistently recognised by Chambers Global since 2009, as a “Leader in his Field”, and ranked band 1 for Dispute Resolution. Chambers Global 2019 noted that he is “cool, calm and focused” and “thorough and authoritative in the advise he gives.” Chambers Global 2018 commented “He’s our go-to person for litigation of any kind.” They explained “We can always trust that he will be pragmatic and frank about the strength of our arguments, while still putting our best foot forward in any action.” Chambers Global 2016 mentions John as widely recognised for his “broad litigation practice and focus on insurance and reinsurance cases.” He is described as “an excellent drafter, and also someone who’s not afraid to nail his colours to the mast and tell you exactly where you stand. Some lawyers will sit on the fence, but not John.”

John is also repeatedly recommended by Legal 500 Caribbean as a Leading Individual for his dispute resolution practice where he has been referred to as “one of the best litigators around, providing excellent technical yet business-savvy legal advice and jumping in with both feet to do all he can to support his client’s position,” and for his Insurance and Reinsurance practice for providing “a tremendous level of service, including practical advice that focuses on solving the issues at hand.”

John is identified as a leading commercial litigator and insurance/reinsurance specialist in the Practical Law Company’s Which Lawyer Guide. He is also listed as being among the world’s preeminent lawyers in The International Who’s Who of Insurance and Reinsurance Lawyers, The International Who’s Who of Business Lawyers and The International Who’s Who of Asset Recovery Lawyers.

John is a Fellow of the Chartered Institute of Arbitrators. In addition to being admitted in Bermuda, John has also been admitted in New York, England, Hong Kong, Canada and the British Virgin Islands.

Publications:

• Bermuda’s rescue culture in action: Noble Group Limited – The Bankruptcy & Restructuring Expert Guide – May 2019
• Bermuda Chapter – The Insurance Disputes Law Review Edition 1 – December 2018
• Restructuring & Insolvency: Bermuda – Getting The Deal Through – December 2018

Expertise:

John´s recent expertise includes:

• Seadrill, Advised the coordinating committee representing a bank group holding USD 7.4 billion in secured debt, on Seadrill Limited’s successful completion of its USD 10 billion restructuring plan pursuant to its chapter 11 plan of reorganisation. This high profile restructuring was one of the most complex restructurings in history and the largest ever in the offshore drilling sector.

• Virgin Group Investments, Advised the Virgin Group Investments Ltd, the investment arm of billionaire Richard Branson’s family, in connection with new cruise industry venture by designing and constructing two new world class cruise ships.

• Triton Container International Limited, Advised on TCIL’s merger with TAL International Group, Inc., a NYSE-listed, US company (TAL). The transaction will create the world’s largest lessor of intermodal freight containers with revenue generating assets of $8.7 billion.

• African Risk Capacity Insurance Company Limited, advised on the Bermuda incorporation and registration of African Risk Capacity Insurance Company Ltd, valued at USD$135 million, intended to help participating African Union member states become more resilient to extreme weather.

• Large multinational transportation and shipping company, provided Bermuda law restructuring advice in a matter involving the restructuring of numerous internationally governed debt facilities. The proposed restructuring involves a number of new proposals novel to Bermuda law.

• Large International Financial Institution, acted as Bermuda law expert in defending a large class action brought against the financial institution.

• Very large global multinational oil and gas company, provided Bermuda law advice relating to potential restructuring plans and Bermuda schemes of arrangement in a complex group wide multi-national debt restructuring matter.

• C&J Energy Services Limited, advised and represented C&J Energy Ltd and C&J Corporate Services (Bermuda) Ltd in respect of parallel provisional liquidation proceedings in Bermuda and chapter 11 proceedings in the United States of America.

• L. F. Wade International Airport – The Financial Investors, advised on the Bermuda law relating to the financing of the redevelopment of the L. F. Wade International Airport in Bermuda (Redevelopment) pursuant to which the clients subscribed for USD 285 million of fixed coupon notes.

• KeyTech Limited, advising in connection with a multi-layered transaction that included the acquisition of the remainder of Bermuda Digital Communications Ltd. (CellOne) and the acquisition by Atlantic Tele-Network, Inc., of a controlling interest in Keytech.

• African Risk Capacity Insurance Company Limited, acted in connection with the expansion of the existing business (drought insurance coverage) to parametric risk models to underpin new parametric insurance programmes to cover tropical cyclone and flood risk for African Union member countries.

Education:

University of British Columbia (Canada) (JD)

Osgoode Hall Law School, York University (Canada) (LLM)