Bermuda’s government and legal system
Litigants in Bermuda must negotiate a legal system that combines deep historical roots with a modern approach that increasingly accommodates specialisation. Here, we canvass the legal history of the island, the courts that make up the island’s justice system and our system of government.
The precise role of a protector in relation to discretionary trusts has been difficult to identify and there was, until recently, little judicial authority on the nature of a protector's duties particularly in the context of a requirement for protectors' consent to decisions of the trustees. Strong guidance has now been provided by the Royal Court of Jersey in the recent case of Re Jasmine Trustees [2021] JRC 248. That guidance cannot however be said to be definitive as there is conflicting authority on the nature of a protector's role where it has a veto, from the Bermudian Court (re The X Trusts [2021] SC (Bva) 72 Civ), albeit that that authority was considered by the Royal Court in its Judgment.
Appleby Bermuda contributes to a new Special Report on Family Philanthropy
Partner and Group Head of the Private Client and Trusts department in Bermuda, Vanessa Schrum has authored the chapter on ‘Caribbean choices’ in a Special Report on Family Philanthropy, published by Globe Law and Business.
Trustee Knowledge Series Advanced Paper Seven: Rights to Information
Our Trustee Knowledge Series previously looked at disclosure by outgoing trustees in our paper on 'Changing Trustees' and we will cover disclosure in trust litigation during the final part of this series. This paper principally addresses disclosure to beneficiaries, which will be the issue most commonly faced by trustees as well as briefly considering disclosure to other parties with an interest (or, at least, purported interest) in a trust.
Asset Holding Company Regime – A Jersey Perspective
The UK’s new asset holding company (AHC) regime is expected to come into effect in April 2022. This is part of a broader set of initiatives by the UK government to have positive outcomes for the financial sector and enhance the UK’s competitiveness as a location for asset management and for investment funds.
Data Privacy Week – Your Data, Your Choice
This week is Data Privacy Week, an occasion championed by the National Cybersecurity Alliance, the American non-profit, public-private partnership promoting cybersecurity and privacy education and awareness.
Developments For HR Practitioners To Watch Out For This Year
Last year was a busy one in the world of labour and immigration law. A raft of changes were made to the Employment Act 2000, including new rights and obligations in relation to bullying and harassment policies and the use of probation periods.
Listing Sustainability-Linked Bonds on The International Stock Exchange (TISE)
This article provides a summary of Appleby listing agent services in the Channel Islands, and also offers an introduction to listing Sustainability-Linked Bonds on The International Stock Exchange ("TISE").
Trustee Knowledge Series: Advanced Paper Six: Overview of protectors 'ad serviendum ac protegendum”
Part of our series of Trustee Knowledge Papers, set out to be a useful reference guide for all levels of Trust company administration; from junior administrator to director. This is the sixth publication of the Advanced series.
A Time Of Regeneration: Bermuda Can Bounce Back Better
Bermuda’s economy is a mixed bag of emerging opportunities and specific challenges. But if all sectors work together, it has an opportunity to build back better, say experts from a diverse range of sectors in the General Economy Roundtable.
A Rising Tide: And Ships Are Choosing Bermuda
Bermuda must remain innovative, nimble and wary of too much regulation to stay ahead of the game, according to a panel of experts in this captive roundtable.
As the ILS market continues to innovate and evolve, driven by external forces including ESG, it will stay at the forefront of the Island’s future developments, a panel of experts concludes in this ILS Roundtable.
