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Article 07/08/2022
Third-party guarantors of the liabilities of a long-term insurer may be released if the insurer’s long-term business is transferred to a new insurer using section 25 of Bermuda’s Insurance Act 1978 (“Insurance Act”).
Article 06/29/2022
This article first appeared in The ICLG to: Restructuring and Insolvency Laws & Regulations, which covers common issues in restructuring and insolvency, including issues that arise when a company is in financial difficulties, restructuring options, insolvency procedures, tax, employees and cross-border is.
Article 04/21/2022
The decision of the Supreme Court of Bermuda in Re Ping An Securities Group (Holdings) Limited is a useful reminder of the facts that the jurisdiction to appoint liquidators following first meetings is discretionary and that creditor autonomy in the matter of appointments is not unlimited.
Article 12/17/2021
In December 2021, the Bermuda Monetary Authority (BMA) published a number of consultation papers and stakeholder letters with proposals to refine and improve elements of the regulatory regime for insurers.
Case review 11/26/2021
On 12 November 2021, the Bermuda Supreme Court issued its written judgment in NKWE Platinum Limited v. Glendina PTY et al. [2021] SC (Bda) 86 Com.
Article 10/05/2021
The convergence, announced in July 2021, on a “consensus-based solution” on base erosion and profit shifting by members of the OECD/G20 Inclusive Framework will have escaped the attention of few people active in the global insurance industry.
Article 10/04/2021
The Bermuda Monetary Authority has published a consultation paper on proposed amendments to the Insurance Code of Conduct, which was last amended in July 2015, implementing a conduct of business regulatory regime for insurers registered in Bermuda. The proposals would align Bermuda’s regulatory regime more closely with the core principles promoted by the International Association of Insurance Supervisors.
Article 08/24/2021
This article first appeared in The ICLG to: International Arbitration Laws and Regulations, which covers common issues in international arbitration laws and regulations - including arbitration agreements, governing legislation, choice of law rules, selection of arbitral tribunal, preliminary relief and interim measures - in 36 jurisdictions.
Article 04/09/2021
This chapter covers common issues in enforcement of foreign judgments, laws and regulations through the detailing of the general enforcement regime, enforcement regime applicable to judgments from certain countries, and methods of enforcement in 25 jurisdictions.
Case review 03/18/2021
Fiona Lorraine Philipp v Barclays Bank UK PLC [2021] concerned a couple, the victims of a “push payment” fraud, who were unable to recover damages from their bank for failing to prevent the payment of substantial sums to the fraudster.
