MJM Representing Variable Class Representatives in Northstar Segregation Case

MJM Representing Variable Class Representatives in Northstar Segregation Case

About Jennifer HaworthJennifer Haworth

Jennifer Haworth is a Director in the firm’s Litigation & Dispute Resolution team. Jennifer has a wide practice in all aspects of civil and commercial litigation both in Bermuda’s courts as well as in mediation and arbitration.

Jennifer Haworth’s full profile on mjm.bm.

In 2020, winding up proceedings were issued in the Bermuda courts regarding Northstar Financial Services (Bermuda) Ltd (“Northstar”) and Omnia Ltd. Shortly therefor In a decision of the Supreme Court dated 26 August 2021, the Chief Justice, after reviewing the opinion of overseas counsel for the JPLs Mr Michael Todd KC’s opinion, ordered that key questions regarding whether the various accounts maintained by Northstar and Omnia were segregated for the purposes of the Segregated Accounts Companies Act 2000. The Chief Justice also ordered that class representatives be appointed for each of the policyholders: fixed, variable and general and that separate legal counsel be obtained for each of those classes.

MJM Limited’s Jennifer Haworth was appointed as counsel for the variable class representatives representing the variable class investors in Northstar and Omnia. Jennifer, together with Associate, Dan Griffin, have been working on the case for a number of months now and have in turn appointed King’s Counsel, Edward Davies KC of Erskine Chambers.

This represents a key case for Bermuda, the outcome of which is important for the consideration of segregation principles and how they are to be applied, particularly in the insolvency context. The hearing is expected to take place next year.