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.
Appleby captive experts Jacob MacAdam and Menelik Miller discuss what makes Cayman such a ‘captive-ating’ jurisdiction and how Appleby can help clients establish and grow their presence in the jurisdiction.
New Limitations on the Length of Stay for Visitors to Bermuda
In November 2022, The Minister of Economy and Labour, the Hon. Jason Hayward, JP, MP, announced that the Government would be moving to amend their policy relating to guest visitors whereby visitors (i.e. those arriving as tourists without any visa or work permit) have been able to remain in Bermuda for 180 days before leaving for as little as one day, only to return for up to 180 days. The intention, as stated by Minister Hayward at the time, was to “mitigate visitors circumventing Immigration controls”.
Technology Experience a Must for Board Composition
Corporate governance is an enterprise-wide endeavour that addresses all aspects of an organisation. Obviously, the most material, if not critical, aspects of the organisation should receive corporate governance priority.
Derivative Action: A shareholder’s remedy to protect the interests of the Company
Generally, when there is a wrongdoing committed against a company, it is the company itself which acts. The decision to initiate proceedings rests with the directors and not the shareholders. The latter are normally precluded from initiating proceedings on behalf of the company and the courts are rarely inclined to intervene into the management of a company. However, there are instances where certain specified types of wrong are committed by the directors against the interests of the company and in breach of their fiduciary duties, which can allow shareholders to have recourse to the Court on behalf of the company. Such an action is known as a derivative action and has as its principal objective to protect the interests of the company.
After a robust 2023 for ILS, five experts in this space debated the changing role ILS is playing in the wider risk transfer markets, their views on 2024—and the impact on Bermuda of other domiciles.
The Global – your offshore corporate law questions answered
The Global is Appleby’s quarterly collection of expert insights and analysis on the latest developments in offshore corporate law. Here are follow-up FAQs from the insights we shared in the Q3 Review edition.
The Financial Crimes Commission Act in Mauritius: Strengthening Efforts to Combat Financial Crimes
The passing of the Mauritius Financial Crimes Commission Act on 21 December 2023 (the Act) marks a commendable and significant milestone in the country's ongoing efforts to combat financial crimes. This comprehensive legislation establishes the Financial Crimes Commission (the Commission) as the principal agency responsible for detecting, investigating, and prosecuting various financial crimes, including corruption, money laundering, fraud, and drug financing. This E-Alert discusses the key highlights and benefits of this Act and emphasises its importance in strengthening the fight of Mauritius against financial crimes.
