Bermuda introduces LLC law based on Delaware statute

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A company may be licensed as a Class 2 insurer if it is owned by two or more unrelated persons and intends to carry on insurance business at least 80% of which consists of insuring the risks of those persons and their affiliates. A Class 2 insurer may also write business which is not a […]

Bermuda: Setting up a class 1 captive insurer

A company may be licensed as a Class 1 insurer if it is wholly owned by one person and intends to carry on insurance business consisting only of insuring the risks of that person or its affiliates. Such insurers are often referred to as “pure captives” and are subject to the least onerous regulatory oversight […]

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This annual publication underscores the importance of the Norwegian market to our Bermuda corporate practice. The shipping and offshore sectors experienced another difficult year for new financings and equity raises in 2017. Market activity has focused on consolidation, private placements and debt restructuring, as evidenced by the deals highlighted below. In challenging times, Norway’s over-the-counter […]

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Landlord’s threats of legal action amounted to harassment of tenant

The recent Court of Appeal decision in Metropolitan Housing Trust Ltd v Worthington (1) and Parkin (2) alerts landlords to the risk of their dealings with tenants amounting to unlawful harassment.  Housing Management and Litigation experts Karl Anders and Lucie Bryan explain and offer practical advice, which will be of particular interest for social housing providers […]

Cabot SPR appeal: A welcome outcome for unsecured lenders in Scotland

Walker Morris partner Rob Aberdein explains an appeal allowed by the Sheriff Appeal Court which clarifies that the “interventionist and problem-solving approach” required of sheriffs under the new Simple Procedure Rules Simple Procedure Rules (SPR) for low value claims does not extend to undefended claims.  The appeal concerned a number of test cases and will […]

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The FCA last week published a suite of responses it has received to a consultation paper (CP18/3) released in January this year setting out the FCA’s proposed changes to the jurisdiction of the Financial Ombudsman Service (FOS) to open the FOS complaints resolution process to small businesses (SMEs). The fourteen responses published come from a […]

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Social media has many benefits, enabling us to keep in touch with old and new friends alike, sharing special moments with ‘followers’, organising events or tracking exercise progress. However, there is a dark side to the web.  Every click, post or search adds to your very own digital footprint, this leaves everyone vulnerable to exploitation. […]

Romanian companies will be able to distribute dividends on a quarterly basis

The Romanian Parliament recently approved the Law on the Amendment and Completion of the Accounting Law No. 82/1991, Amendment and Completion of the Companies Law No. 31/1990 and Amendment and Completion of Law No. 1/2005, on the organisation and functioning of cooperative companies. Before entering into force, the law will have to be promulgated by […]

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National law firm Shoosmiths has become one of a small number of law firms in the UK to have been authorised by the Financial Conduct Authority (FCA) to undertake activities including debt administration, debt collection and mortgage administration. This accreditation is part of a strategic business improvement programme by the firm to ensure it achieves […]

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