Guide to insolvent liquidations in Bermuda
A number of separate procedures are available to various interested parties upon the insolvency of a company in Bermuda. There are two statutory procedures: a compulsory winding up by the court and a creditors’ voluntary winding up. In addition, a secured creditor may be entitled to exercise a private contractual right to appoint a receiver of assets subject to debenture or similar security. This guide will discuss only the two statutory liquidation proceedings, namely winding up by the court and creditors’ voluntary winding up.
After introducing the two liquidation procedures and describing the respective processes by which each commences, the guide will consider insolvency-related issues.
A winding up by the court, also referred to as a compulsory winding up or liquidation, commences following the filing with the court of a petition presented by the company, one or more creditors or the registrar of companies…
Click on the link below to read the rest of the Appleby briefing.
Sign in or Register to continue reading this article
It's quick, easy and free!
It takes just 5 minutes to register. Answer a few simple questions and once completed you’ll have instant access.Register now
Why register to The Lawyer
In-depth, expert analysis into the stories behind the headlines from our leading team of journalists.
Identify the major players and business opportunities within a particular region through our series of free, special reports.
Receive your pick of The Lawyer's daily and weekly email newsletters, tailored by practice area, region and job function.
More relevant to you
To continue providing the best analysis, insight and news across the legal market we are collecting some information about who you are, what you do and where you work to improve The Lawyer and make it more relevant to you.
News from Appleby
News from The Lawyer
Briefings from Appleby
Bermuda’s legal framework facilitates the creation of flexible and economically viable co-investment vehicles within a stable and business-friendly jurisdiction.
Feltham v Bouskell provides a cautionary tale for lawyers regarding the need to act quickly upon the receipt of instructions from elderly or ill clients.
Analysis from The Lawyer
The past quarter has been busy for the offshore sector as firms have looked to capitalise on globalisation, while workflow has remained high
Business is booming in the Isle of Man, a small jurisdiction that thinks big