Important Bermuda decision on the recognition of foreign insolvency office holders

The Bermuda Supreme Court has clarified the rules for granting common law recognition and assistance to foreign insolvency office holders following the landmark competing Privy Council decisions of Singularis Holdings Ltd v Price Waterhouse Coopers [2014] UKPC 36 and Cambridge Gas Transportation Corporation v Official Committee of Unsecured Creditors (of Navigator Holding PLC and others) [2006] UKPC 26.

Related briefings

Trustees – finding certainty in uncertain times

There is an old saying, attributed to the French Philosopher Voltaire, that ‘doubt is not a pleasant condition but certainty is an absurd one’. For trustees of trusts governed by the laws of the Cayman Islands (Cayman), and indeed for trustees worldwide, doubt as to the future value of trust assets (and as to the future needs or actions of beneficiaries) may be their new default condition as they deal with the upheaval brought on by recent global events.

Latest Briefings

Permission in principle – growth, renewal, protect

The biggest shake up of the planning system since 1947 continues apace with the announcement, on 2 August, of government plans to create an automatic green light for development within specifically designated areas of the country.

Setting aside company transactions involving Jersey, Guernsey and BVI companies

Financial pressure can change perspectives on transactions – whether through the lens of an insolvent winding up, in the context of a counterparty or related interested party exploring ways in which they might unravel a transaction, or a new board considering whether a company can extricate itself from contractual arrangements that appear to have been subject to a conflict of interest or which were for an improper purpose.

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Baker McKenzie

Bakers eyes September reopening for London HQ

Baker McKenzie is aiming to allow its London staff back into the office from September, as other firms have instead opted for soft-reopenings in the past few weeks. The firm will start by letting in around 25 per cent of its City headcount, but going into the office will not be mandatory. Staff will enter […]

Solicitors Regulation Authority

SRA closes investigation into former Quinn partner Mark Hastings

The SRA has said it will take no further action against Mark Hastings, the partner dismissed by Quinn Emanuel Urquhart & Sullivan in May 2018, after allegations of inappropriate behaviour were made against him. Hastings spent two years at Quinn’s London office, where his appointment was initially touted as a major coup for the firm. The […]

John Cleland

Pinsents’ PEP falls for second consecutive year

Despite global turnover rising by four per cent over the last 12 months, profit per equity partner (PEP) at Pinsent Masons has dropped for the second year in a row. With a reduction of almost 12 per cent, Pinsents’ PEP dropped from £620,000 to £546,000 for the last financial year, representing yet another blow following last […]

NatWest

Dentons and Mishcon on call in NatWest fraud claim

Mishcon de Reya has filed a claim on behalf of an Italian engineering company against NatWest Bank. Maire Tecnimont Group is bringing legal action against NatWest – which has instructed Dentons – arguing that the bank failed to stop it falling victim to payment fraud. In 2018, Maire Tecnimont’s subsidiary in Saudi Arabia sent $5m […]

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