Author Archives: Brian Holdipp

Legislation was recently put before Parliament to introduce Bermuda’s newest form of commercial vehicle: the limited liability company (“LLC”). The new law establishing the Bermuda LLC is heavily (and intentionally) influenced by the Delaware Limited Liability Company Act to accommodate the main efficiencies of a Delaware LLC.
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The vast majority of partnerships on the Bermuda registry are said to be private or closed-end funds. Hailed as an important part of the government’s efforts to achieve growth in the asset management area, amendments have been made to partnership and company legislation to enhance the flexibility and efficiency of Bermuda exempted and limited partnerships and to boost the desirability to use Bermuda as a jurisdiction to establish private equity funds and asset-holding structures.

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In a positive sign for Bermuda’s economy, Education and Economic Development Minister Dr. Grant Gibbons recently released results showing that the midyear total of new company registrations in 2014 stood higher than any midyear totals for the last five years.

The total of 19,151 local and exempted entities on the register at the end of the second quarter of 2014 was bolstered by the registration of 308 new companies (268 international business related) during that period, a slight increase over the 303 new companies (250 international business related) registered during the same period in 2013. Read More »

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Recently, the following Orders were enacted to add a dedicated corporate governance licensing criterion to the Trust (Regulation of Trust Business) Act 2001, the Investment Business Act 2003 and the Investment Funds Act 2006 (collectively, the “Regulatory Acts”):

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Senior Associates Brian Holdipp (Corporate) and Tim Frith (Litigation) attended the International Bar Association’s annual conference in Boston this month.

The International Bar Association, established in 1947, is the world’s leading organisation of international legal practitioners, bar associations and law societies with a membership of more than 50,000 lawyers and over 200 bar associations and law societies.

The event drew a record attendance of over 6,000 lawyers from 120 countries.

Given the international nature of MJM’s work, the annual conference provided our firm’s representatives unparalleled opportunities to establish new contacts and solidify existing ones, learn of current trends in relevant areas of legal specialization and participate in a wide array of substantive sessions, workshops and panels.

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