Bermuda Law Blog

04 Dec 2017

Fozeia Rana-Fahy
Meritus Trust Company Limited v Butterfield Trust (Bermuda) Limited [2017] Bda LR 82 In October 2017, Chief Justice Kawaley ruled that an outgoing trustee is neither entitled to retain any part of the trust assets as security for its equitable indemnity as former trustee nor demand a contractual indemnity. This case involved an outgoing institutional trustee who upon being removed (as opposed to having retired) as trustee of two trusts, refused to hand over sizeable trust assets or trust documents to the new trustee without first obtaining a contractual indemnity and retention of assets from the two trusts. This was against the backdrop of a potential breach of trust claim of an approximate value of $5 million. The trust deeds did not confer any express retention or contractual indemnity rights on the former trustee.
19:31 / Bermuda Case Law & Legislation / MJM Barristers & Attorneys / Wills, Trusts & Estates
02 Dec 2017

Agathe Holowatinc
For the third year running, MJM Director Fozeia Rana-Fahy has been listed as one of the Top 200 international Powerwomen by Citywealth. The list honours 200 of the most powerful women in government, private wealth, education, private client advisory and philanthropy across the international financial centres (IFCs). The IFC Powerwomen Top 200 list focuses on influencers as well as professionals and celebrates powerful women from diverse backgrounds. It recognises women of achievement who are trailblazers in their field, helping to promote business excellence in their home jurisdiction and consolidating the reputations of the financial services industry globally.
22:23 / Litigation & Dispute Resolution / MJM Barristers & Attorneys / Wills, Trusts & Estates
02 Dec 2017

Jennifer Haworth
In the first decision of its kind, the Bermuda Supreme Court has utilized its powers under Section 39 of the Arbitration Act 1986 (the “Act”) to terminate an arbitration - and in this case a very important one - the arbitration between The Allied Trust and Allied Development Partners Limited (together “Allied”) and The Government of Bermuda. This decision follows Parliament’s voiding of Allied’s lease over the Hamilton Waterfront (the “Waterfront Arbitration”).
21:34 / Bermuda Case Law & Legislation / Litigation & Dispute Resolution
27 Nov 2017

Jennifer Haworth
In December 2016, the legislature in Bermuda passed the Bribery Act 2016 (the “Act”) which came into force on 1 September 2017. The Act is based on the UK Bribery Act 2010. In the past, there were several separate laws dealing with bribery and corruption offences in Bermuda, such as the Criminal Code 1907 (Section 111 Official Corruption and Section 112 Extortion By Public Officers), the Parliament Act 1957 and the Parliamentary Election Act 1978. But as of 1 September, we have one comprehensive statute that sets out bribery offences in Bermuda, including the offence of failure of commercial organisations to prevent bribery, a strict liability offence for which the only defence is for a commercial organisation to demonstrate that it had ‘adequate procedures’ to prevent bribery.
21:14 / Bermuda Case Law & Legislation / Bermuda Government
17 Oct 2017

Agathe Holowatinc
Research for Chambers Global 2018 has finished and, in an advanced ranking announcement from this Monday, the global law firm rating agency disclosed that several MJM attorneys will be featured as "Leaders in their Field" and that MJM Limited will be ranked in the forthcoming edition of Chambers Global Guides. The "Leaders in their Field" list of names was released and we are proud to recognise the following for their achievement:
19:43 / MJM Barristers & Attorneys
06 Oct 2017

Jane Collis
Recently tabled in the House of Assembly, the Proceeds of Crime Amendment (No.3) Act 2017 (“PCA3”) will have the effect of extending regulatory reach to lay trustees. Some of you already act as a trustee for a friend or family member. Others will be asked to do so in future. The playing field is changing for lay trustees and it is important to fully understand the responsibilities of the position.
14:12 / Bermuda Case Law & Legislation / Wills, Trusts & Estates
15 Sep 2017

Agathe Holowatinc
A new Progressive Labour Party Government signalled its intention to build “a better and fairer Bermuda” by “ensuring social mobility and removing social inequality” through economic growth when its legislative agenda for the forthcoming parliamentary year was unveiled in the Speech from the Throne delivered on the opening of Parliament on Friday the 8th of September following the party’s landslide election in July. Describing Bermuda as the most expensive country to live in 2016, the new Government announced its priorities would be: reducing the cost of living; creating more jobs for Bermudians; and growing the Bermuda economy.
13:30 / Bermuda Government
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