1 Issues Arising When a Company is in Financial Difficulties -
1.1 How does a creditor take security over assets in Bermuda?
Bermuda is a self-governing British Overseas Territory. The systems of law...more
When a trustee is sued for breach of trust and claims against his professional indemnity insurers, questions often arise as to the extent to which the trustee must first pursue any other rights of indemnity (for example...more
There continue to be an increasing number of offshore Court judgments considering the nature and extent of an offshore trustee’s liability to third parties (including third parties in foreign jurisdictions), and the rights of...more
The offshore jurisdictions are catching up fast with legal issues relating to cybercrime, cyberliability, and the use and discovery of electronic documents.
In the wake of the embarrassing leak in April 2013 of about...more
Offshore lawyers (including international “offshore magic circle” firms, sole practitioners, high street firms, and boutique practices) are exposed to significant risks in the course of their work, particularly in the...more
Cayman’s Parliament is expected to enact a new Law that will give third parties who are conferred benefits under a contract, but who are not a party to it, the right to enforce the contract’s terms for their own purposes. ...more
The Cayman Law Reform Commission has issued a consultation paper on proposed legislative changes that could see a codification of directors’ duties, as is now the case in the UK. While recognizing the existing common law...more
The Cayman Islands government has recently concluded a consultation on a proposal to introduce a public register of the beneficial owners of Cayman-registered entities. The proposal has not been well received. The government...more
A new Companies Ordinance (CO) came into effect in Hong Kong on 3 March 2014, which introduced a number of changes to the law on directors’ duties. ...more
There have been a number of cases decided recently by offshore Courts (particularly in Jersey and Bermuda), in which the Courts have had to consider the scope of their jurisdiction to determine disputes relating to trusts...more
Offshore litigation of claims against professionals may have entered a new era. Numerous recent decisions have blessed the use of commercial litigation funding and confirm that it should not offend rules against champerty...more
Litigation against directors, officers and professional service providers, following the collapse of offshore funds and collective investment schemes such as Madoff and Weavering, continues to proceed in a variety of...more
There have been a number of decisions published recently by the courts in various international financial centres such as Bermuda, the Cayman Islands, Jersey and Singapore, that have considered the meaning and effect of...more
In This Update:
Introduction; Financial Institutions; Directors & Officers; Cyber; Professional Indemnity; Liability; Products; Property; Latin America; Reinsurance; and Litigation, Costs & Procedure.
Sedgwick’s Offshore Professional Risks practice offers a unique and global perspective on professional risk. As the only law firm in the world with offices in the key insurance jurisdictions of Bermuda, London and the U.S.,...more
The Bermuda Monetary Authority (the BMA) has published a new statement of practice (SoP). It sets out factors to which it will have regard and procedures to be followed in deciding whether and in what manner to exercise...more