International Corporate Rescue
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Vol 22 (2025) - Issue 6
Article preview
A More Common Thread Running Through the Common Law? The Supreme Court of Bermuda Grants What Is Believed To Be the First Ever Extra-Territorial Summoning of a Company Director to Appear Before It for a Private Examination by Joint Provisional Liquidat
Paul Goss, Counsel, London, Warren Bank, Senior Associate, Bermuda, Janae Nesbitt, Associate, Bermuda, and Henry Tucker, Office Managing Partner, Bermuda, Harney, Westwood & Riegels (‘Harneys’), UK and BermudaSynopsis
In a landmark decision of the Supreme Court of Bermuda ('Court'), Harneys and the joint provisional liquidators ('JPLs') of a Bermuda company (the 'Company') successfully argued that the Court's power to summon officers of a company in liquidation or provisional liquidation before it for a private examination and delivery up of books and records under the Companies Act, 1981 ('Companies Act') has extra-territorial effect.
The Company is a Class C long-term insurer registered under the Bermuda Insurance Act 1978 ('IA'), and is a segregated accounts company under section
6 of the Segregated Accounts Companies Act 2000 ('SAC Act'). It has been licenced by the Bermuda Monetary Authority ('BMA') since 2013.
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