Balgobin M. L. v. Maubank Ltd & Anor 2024 SCJ 145 - Case Summary
The Court of Civil Appeal (CCA) delivered an interesting judgment on the adequacy of affidavit evidence when making a bankruptcy order. The CCA, acting solely on the basis of affidavit evidence, upheld an order of the Bankruptcy Court adjudging the appellant (Mr Balgobin) bankrupt pursuant to Section 8 of the Insolvency Act.
Whose crypto is it anyway? – the status of cryptocurrency as ‘property’ under BVI and Cayman law
In recent years, a number of courts have grappled with the question of whether cryptocurrency is “property” or an “asset” within the context of insolvency proceedings. Such proceedings have typically arisen from the collapse of cryptocurrency funds or virtual asset trading platforms.
In June 2023, The Stock Exchange of Hong Kong Limited published consultation conclusions to its consultation paper on the expansion of a paperless listing regime. The revised Listing Rules and related guidance implementing the expanded paperless listing regime have come into effect on 31 December 2023.
Smile - you are on (secret) camera
This article discusses the recent approach of the Cour de Cassation in France on rules of evidence in civil proceedings. In a recent ruling¹ relating to the dismissal of an employee for serious misconduct, the Cour de Cassation has reiterated the principle that evidence obtained unfairly is admissible in civil proceedings. This ruling confirms the approach adopted in a previous ruling dated 22 December 2023² , delivered by the Cour de cassation. It has also provided clarity on the conditions for admissibility of such evidence before the French courts.
Bermuda: Lack of New Players Is Supporting Strong Interest in ILS
All signs point to another very strong year for the catastrophe bond and related insurance-linked securities (ILS) market, and a lack of new capital entering the commercial reinsurance space suggests interest in ILS will remain strong, according to Brad Adderley, Bermuda Managing Partner, Appleby.
Choosing the right structure for your business in Bermuda
Anyone seeking to set up a business in Bermuda has a variety of options, depending on the nature of the business activities planned and whether they wish to conduct business in the local market.
Listing high yield bonds on The International Stock Exchange (TISE)
Find out why TISE is the stock exchange of choice for High Yield Bonds
Data Protection Law now in force in Seychelles
In a significant move to safeguard the privacy and security of its citizens' personal information, Seychelles introduced the new Data Protection Act, 2023 (DPA) in December 2023, which is now in force. The DPA repeals the Data Protection Act 2003 which was enacted but never implemented in practice.
PIPA Compliance is Not Just a Domestic Affair
As organizations in Bermuda prepare for the full application of the Personal Information Protection Act, 2016 on 1 January 2025 ( PIPA ), they need to keep in mind that PIPA protects the privacy rights of all individuals, regardless of the location of those individuals.
Trading Standards: Application to your business
The Trading Standards (Fair Trading) (Guernsey) Ordinance, 2023 (Ordinance) came into force last October and created a new statutory framework for consumer protection and fair trading in Guernsey.
Guernsey retains its EU adequacy – as expected
The post-Brexit regulatory landscape continues to throw up challenges and jurisdictional arbitrage, but there are some areas where consistency and stability are welcome. The recent confirmation from the European Commission that 11 jurisdictions had retained their “adequacy” status from a data protection perspective has left many breathing a (long anticipated) sigh of relief. All three of the Crown Dependencies (Guernsey, Jersey and the Isle of Man) have retained the coveted status.
Parental Bereavement Leave: Jersey to implement further family leave rights
The UK introduced “Jack’s law” in 2020. Jersey is now following the UK’s example, and as of 18 March 2024, a draft amendment to its Employment Law 2003 will come into force introducing a right to parental bereavement leave on the island.
