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...
By Dan Griffin and Jennifer Haworth Last year, we noted that the Court of Appeal limited the scope of discovery required to determine the valuation of shares in amalgamating or merging companies in Bermuda. This year, in the same case, the Supreme Court refused an application...
By Arno Duvenhage and Jennifer Haworth The recent judgment of the Bermuda Court of Appeal in The Hongkong and Shanghai Banking Corporation Limited v NewOcean Energy Holdings Limited [2022] CA (Bda) 16 Civ, illustrates an ongoing tug of war in Bermuda when interpreting and applying the principles...
The Companies and Partnerships Electronic Registry Amendment Act 2020 (the “Act”), eagerly welcomed by industry, was recently passed into law and will come into operation on a date to be appointed by notice by the Minister of Finance (the “Minister”). The Act principally amends the Companies...
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...
In a recent judgment handed down by the Supreme Court of Bermuda, the Court re-affirmed the position with respect to abuse of process in winding up proceedings. In In the Matter of Full Apex (Holdings) Limited (Provisional Liquidators Appointed) [2019] SC (Bda) 87 Com...
MJM recently received recognition in Marine Money for its market leading Ship Finance Practice. Here are the highlights of key deals in 2019: Deal Name: Project Sprint Companies: Frontfleet Ltd as buyer and Frontline Ltd as buyer guarantor (MJM clients) and Trafigura Maritime Logistics Pte. Ltd., as seller, Trafigura Group Pte....