Topic Archives: Company & Commercial Law

In a recent Supreme Court decision the Chief Justice has made an important ruling with potentially wide implications. The case concerns the time limit for bringing a claim in negligence against a party with whom the claimant is also in a contractual relationship. The decision is of particular interest to Lawyers, Accountants, Architects, Doctors, and Surveyors (the “LADS”) but also anyone else who makes their living by providing professional advice to clients.
The effect of the decision is that a claim can be brought against one of the LADS (or other professional) in negligence independently from any claim for (negligent) breach of contract. The time limit for bringing a claim in contract and negligence is six years, but the date on which the time starts running for each type of claim may differ significantly.

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MJM advised on the HomeStart Programme, announced today by Clarien Bank and Bermuda Housing Corporation. The programme documentation was drafted by MJM’s Jeremy Leese, advising Clarien Bank.

Press coverage of the Programme can be viewed online on the Royal Gazette and Bernews websites.

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This Act was passed in the first quarter of 2016 but has not yet become effective. It is a lengthy Act with a number of separate and detailed statutory mechanisms which work in conjunction with one another. The purpose of the Act is to address a situation where all or part of a bank’s business encounters financial difficulty or is likely to encounter such difficulty. The Act seeks to provide a mechanism for enabling the orderly transfer of the assets of a distressed bank, and the protection of deposit holders’ interests in keeping with international standards.

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The 2015 POCA Amendment Act came into force on 1 January 2016 except for the operation of section 25 in relation to the Register of Directors, which was later brought into effect and operative so that the public Register of Directors must be completed by 31 December 2016.

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With effect from 1st October 2016, the governmental departments responsible for the oversight of the aviation and shipping sectors became “quangos” newly titled as the Bermuda Civil Aviation Authority and the Bermuda Shipping and Maritime Authority.

The aim of granting such status is to boost revenue from the registration of both vessels and aircraft, by making Bermuda more competitive in the global shipping and aviation markets.
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