The restrictions put in place by the Government of Bermuda (“Government”) following positive cases of COVID-19 in Bermuda have placed unexpected pressures on businesses and employees alike. Lay offs and redundancies have already been made and fear is mounting as regards employment rights and obligations. Misinformation...
In response to the global Covid-19 outbreak, the Bermuda Registrar of Companies issued a notice on 20 March, 2020 in respect of Bermuda companies’ compliance obligations pursuant to the Economic Substance Act 2018 (the “Act”). All in-scope companies are still required to comply with the provisions...
We are carefully monitoring the coronavirus (COVID-19) pandemic. Our priority has been to implement steps to protect the health of our staff and their families as well as our clients while continuing to ensure that we meet our clients' needs by providing uninterrupted service. We are...
On the 21 February 2020 at the presentation of the 2020/2021 budget statement the Minister of Finance confirmed the Government’s intention to introduce a bill that will reduce the required ownership of a local Bermudian company from 60% Bermudian to 40% Bermudian, while maintaining the...
MJM advised Northern Drilling Limited on the spin-off of its fleet of two semi-submersible rigs into Northern Ocean Ltd. MJM also advised on Northern Ocean’s equity raise comprising of a private placement and a subsequent offering that raised over $100 million, the closing of an...