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...
Leading law firm, MJM Limited, is pleased to announce that Tim Molton has joined the Dispute Resolution Team as an Associate. Tim has extensive experience working with commercial clients and high net worth individuals on a wide range of matters, having particular experience in the fields...
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....
In addition to MJM Limited’s (“MJM”) market-leading international corporate finance practice, MJM has also been active in a variety of local transactions, the most notable of which related to: The Bermuda L.F. Wade International AirportThe Airport Redevelopment Project proposed by the Government of Bermuda will see the construction of a new state-of-the-art...
Following on from the Government’s commitment to harmonize Bermuda’s economic substance regime with that of other major offshore jurisdictions, the Economic Substance Amendment (No. 2) Act 2019 (the “ESA Amendment Act”) was tabled on 29 November 2019. The ESA Amendment Act, together with anticipated revised Economic Substance Regulations (the “Regulations”, which it is understood should...
The Land Title Registration Act 2011 (“LTRA 2011”) became operative on 14 June 2018 and the Land Title Registrar activated the first three trigger events at the end of August 2018. What exactly does this mean and how has this affected property transactions over the last...
Wong, Wen-Young v Grand View Private Trust Company Limited et al. [2019] SC (Bda) 1 Com (4 January 2019) The Court will take a cautious approach when considering whether to determine preliminary issues ahead of trial, such orders being an exception to the general rule that there be one...
In May 2017, MJM obtained an order for possession and sale on behalf of HSBC Bank Bermuda Limited (the “Bank”) in respect of a mortgaged property owned by two guarantors following the default by the borrower. Approximately, one year later, after the Bank had actual possession of the property, the...