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Bermuda: A growing hub for the life sector

Bermuda has become a flourishing focal point for long-term insurance and reinsurance, offering the Island’s economy an increasingly lucrative pillar. Brad Adderley, partner at law firm Appleby, explains what it means for Bermuda.

BVI vs Hong Kong: The inconvenience of forum non conveniens

The British Virgin Islands Commercial Court in the recent judgment of Oscar Trustee Limited v MBS Software Solutions Limited BVIHC(Com) 2021/0022, once again considered whether the BVI was an appropriate forum to bring a claim. In this instance, the Defendant argued that Hong Kong was a more appropriate jurisdiction for the claim to be tried.

Economic Substance Q4 2021: Changes to BVI economic substance regime

Prior to the amendments introduced by the Economic Substance (Companies and Limited Partnerships) (Amendment) Act, 2021, the type of entities falling within scope of the BVI’s economic substance regime under the Economic Substance (Companies and Limited Partnerships) Act, 2018 included, among others, limited partnerships with legal personality. With effect from 30 June 2021, the scope of the regime was broadened to include limited partnerships without legal personality.

History repeating: a trustee de son tort in Jersey

Becoming a trustee, or ceasing to act in that capacity, is one which will be familiar to all professionals in the offshore trust industry. It is vital that the process is carried out in a manner which is consistent with the interests of the beneficiaries, and complies with the relevant mechanism for the retirement and appointment of trustees.

Latest Briefings

European public procurement: Commentary on Directive 2014/24/EU

The detailed commentary on European public procurement provides an authoritative interpretation of each provision in the main EU Directive on public procurement – Directive 2014/24/EU. It also highlights the application problems and interpretative issues being raised in EU Member States, which in due time will make their way up to the CJEU or even require further legislative interventions.

There is no normal: rapid change requires resilience

Phil Muller, director of legal services at Williams Lea, explains why law firms need to make better use of data, technology and distributed working to future-proof their business models.

Offshore Litigation: Rule in Gibbs applied – Recognition of Singapore moratoria denied in Scotland

In the recent Scottish case of Chang Chin Fen v Cosco Shipping (Qidong) Offshore Ltd, the Outer House of the Court of Session refused petitions brought by debtor companies under the Cross-Border Insolvency Regulations, 2006 to, amongst other things, recognise moratoria obtained in the Singapore High Court on the basis that to do so would prejudice the rights of a creditor to claim under its English-law governed debt, which stood outside the proposed Singapore schemes.

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