Sedgwick Chudleigh Partners Author Bermuda Chapter of the International Comparative Legal Guide to: Corporate Recovery and Insolvency 2017

Articles
June 2017

Sedgwick Chudleigh partners Mark Chudleigh and Alex Potts have authored and are pleased to share the Bermuda Chapter of the International Comparative Legal Guide to: Corporate Recovery & Insolvency 2017, which provides a helpful summary of Bermuda law on common aspects of corporate restructuring and insolvency. 

As a leading offshore financial centre, Bermuda continues to be the jurisdictional choice for a variety of international businesses, both publicly listed and privately owned, as well as the home for a wide range of local companies and business enterprises, ranging from tourism and hospitality to banking and professional services. 

As the 35th America's Cup sailing event draws to a successful conclusion in Bermuda (with Emirates Team New Zealand defeating the defending champion, Oracle Team USA), Bermuda's economy appears to be ripe for growth, with a General Election now scheduled for 18 July 2017. 

The risk of corporate insolvency still remains a stark reality, however, with numerous Bermuda companies and international corporate groups exploring debt restructuring solutions, both locally and internationally, as debts fall due for payment (often in contentious circumstances). 

Bermuda's Commercial Court has recently demonstrated its experience of supervising and assisting cross-border restructurings and liquidations, being the first offshore court to adopt and implement, in March 2017, the Judicial Insolvency Network's Guidelines on Communication and Cooperation between Courts in Cross-Border Insolvency Cases. 

A copy of the Bermuda Chapter is available online here