Adjusting to parenthood can be overwhelming, for both parents. Thankfully, such more needed legislative changes to improve parenting benefits are on the horizon. The Minister of Labour, Community Affairs and Sport announced recently that “the consolidation and modernization of the labour legislation […] has been ongoing for some...
The Government of Bermuda recently passed into law the Merchant Shipping (Registration of Ships) Amendment (No. 2) Regulations 2019 (the “Registration Regulations”) and tabled the proposed Merchant Shipping (Fees) Amendment Regulations 2019 (the “Fees Regulations”). The Registration Regulations expand the list of eligible countries qualified to...
At the end of June 2019, the Government of Bermuda issued draft economic substance guidance notes. The aim of the guidance notes is to assist in determining whether entities are in scope of the requirements of the economic substance legislation and regulations, how to satisfy...
The Economic Substance Act 2018 (the “Economic Substance Act”) was established in direct response to concerns raised by the Council of the European Union concerning the absence of economic substance requirements for entities conducting business in and through Bermuda. Since the introduction of the Economic Substance...
The fundamental principles of the law of meetings are sometimes over-looked in the modern climate of unanimous written shareholder resolutions, comprehensive retrospective ratifications, and the liberal application of the “Duomatic principle”. The decision in East Asia Company Limited -v- PT Satria Tirtatama Energindo in the Bermuda Court of Appeal provides a salutary reminder that the devil is always in the details.
In the Matter of the X Trusts [2018] SC (Bda) 56 Civ (12 July 2018) The trustees in this case are private trust companies which have for some years been responsible for managing trusts which control underlying assets worth billions of dollars. The beneficiaries fall into...