Corporate and commercial in Bermuda

Appleby

The corporate team at Appleby in Bermuda has an enviable track record in large-scale M&A work, corporate restructurings, and joint ventures, regularly assisting FTSE 100 and Fortune 500 companies in the insurance, banking, technology, funds, transport, energy and natural resources sectors. In a recent highlight, Tammy Richardson-Augustus acted as Bermuda counsel to AccorInvest Group on the sale of its Fairmont Southampton Hotel, Bermuda’s largest tourism property, with the assistance of funds specialist Matthew Ebbs-Brewer and senior associate Josephine Noddings. Bermuda managing partner Tim Faries leads the Bermuda corporate and insurance group, which also includes insurance and reinsurance expert Alan Bossin, corporate and commercial transactional specialist Clive Langley, joint global head of technology and innovation Steven Rees Davies, and Sally Penrose, who specialises in regulatory issues. Jerome Wilson and David Clark are other names of note.

Practice head(s):

Tim Faries

Testimonials

‘Practical advice, easy to reach.’

‘Steven Rees Davies – always a pleasure to deal with, very good communication, ready expertise.’

Key clients

Horseshoe Insurance Services Holdings Ltd.

SA Reinsurance Ltd.

T&D Holdings

AccorInvest Group

Sumitomo Dainippon Pharma Co., Ltd.

Normandy Limited

Worldwide Vision Limited

Sandell Holdings Ltd.

SLiC International Ltd.

Southern Cross

Stablehouse Ltd.

XBTO

Work highlights

  • Acted as Bermuda counsel to AccorInvest Group in connection with the sale of its Fairmont Southampton property.
  • Advised the Southern Cross Group of Bermuda companies on all aspects of Bermuda law in relation to Telstra’s acquisition of a 25% equity interest in the Southern Cross Group and the Group’s subsequent network investment in the Southern Cross Next subsea cable project.
  • Advised T&D Holdings on all Bermuda law issues relating to the purchase of a 25% stake in Fortitude Re.

Conyers

Conyers fields corporate specialists with considerable experience advising on M&A, corporate restructurings, insurance issues, and shipping and aircraft matters. The team in Bermuda is led by Graham Collis, who has expertise encompassing general corporate and commercial work, particularly in the insurance space. Within the wider team, director Marcello Ausenda has a particular focus on public company work, securities matters, financing issues, and corporate relocations and restructurings; and Jason Piney recently advised to Aircastle on the completion of its $7.4bn merger with Marubeni and a Mizuho affiliate. Neil Henderson, Niel Jones, Chiara Nannini, Sophia Greaves and associate Edward Rance are further names to note in the department. David Cooke retired in 2020.

Practice head(s):

Graham Collis

Key clients

Digicel Group

Weatherford International

GeoPark Limited

Bacardi

Pepsi

Work highlights

  • Advised Aircastle on the completion of its $7.4bn merger with Marubeni and a Mizuho affiliate in the face of COVID-19 challenges.
  • Advised Digicel on its $7bn debt restructuring.
  • Advised Algonquin Power & Utilities Corp. on its $470m acquisition of Ascendant Group Limited’s issued and outstanding shares.

MJM Limited

Following Peter Martin’s retirement, director Jeremy Leese now leads MJM Limited’s corporate and finance department, which handles a wide variety of corporate matters. The group regularly handles M&A, corporate finance work, and complex corporate reorganisations and restructurings; the team also has a strong track record in cross-border transactions involving Norwegian and Asian clients, particularly in the shipping and offshore drilling sectors. Promoted to counsel in 2020, Brian Holdipp advises on redomiciliations, partnership issues, and compliance matters relating to economic substance legislation and other regulatory regimes.

Practice head(s):

Jeremy Leese

Other key lawyers:

Brian Holdipp

Key clients

Avance Gas Holding Ltd.

Borr Drilling Ltd.

Clarien Bank Limited

FLEX LNG Ltd.

Frontline Limited

Golar LNG Limited

Golden Ocean Group Limited

Hermitage Offshore Services Ltd.

HSBC

Nordic American Tankers Ltd

Nordic American Offshore Ltd

North Atlantic Drilling Ltd.

Northern Drilling Ltd.

Northern Ocean Ltd.

SFL Corporation Ltd.

2020 Bulkers Ltd

Work highlights

  • Acted as Bermuda Counsel to Marsh & McLennan Companies, Inc. on its acquisition of Jardine Lloyd Thompson Group Ltd.
  • Acting as Bermuda Counsel to Inflexion on its acquisition of Estera, a leading global provider of funds, corporate and trust services from Bridgepoint.
  • Acted as Bermuda counsel for a leasing company, which is part of a large Chinese bank, with regard to a sale and leaseback transaction with Höegh LNG Ltd. for a new build vessel.

Wakefield Quin

Led by Nicholas Hoskins, the team at Wakefield Quin is particularly active in cross-border reorganisations and restructurings, M&A, hotel-condo real estate developments and acquisitions, and insurance and reinsurance matters. The group also frequently assists public companies and private equity funds with corporate and commercial issues. Director and CEO Erik Gotfredsen handles joint ventures, partnerships, asset and fund management work, and regulatory and compliance matters, while Ian Stone’s expertise also encompasses offshore corporate and partnership structures and general corporate work.

Practice head(s):

Nicholas Hoskins

Other key lawyers:

Erik Gotfredsen; Ian Stone

Key clients

Accenture Group

AmTrust Insurance Group

ATN International, Inc.

Bermuda Broadcasting Company Limited

Dragon Oil Group

H&K AAG Holdings LLC

National General Insurance Group

Nordic Trustee ASA

Seacrest Group

VEON Ltd.

Work highlights

  • Advised Urovant Sciences on its sale to Sumitomo Dainippon Pharma.
  • Acted for Bristol-Myers Squibb Company on its acquisition of Celgene Corporation.
  • Assisted Citigroup Global Markets with a restructuring (including Bermuda scheme of arrangement) and exit from debtor-in-possession and US Chapter 11 proceedings for Weatherford International.

Walkers

Walkers' Bermuda office is adept at handling M&A work, joint ventures, public listings, take-privates and buy-outs. The department, which is led by Jonathan Betts, has a strong reputation for local infrastructure transactions in the renewable energy, hotel and leisure, and insurance sectors. Natalie Neto has experience in takeovers, amalgamations and schemes of arrangement, while insurance specialist Sarah Demerling and senior associate Nathalie West are also recommended.

Practice head(s):

Jonathan Betts

Key clients

Onex Corporation

Norwegian Cruise Lines

Elysian Capital

New World Development

Morgan Stanley

Goldman Sachs

Société Générale

JPMorgan Chase

Standard Chartered Bank

Apollo Global Management

Work highlights

  • Acted as offshore counsel to Norwegian Cruise Line on three separate financing transactions, equating to $2bn, which were completed during 2020.
  • Acted as both Bermuda and BVI counsel on New World Development’s acquisition of FTLife Insurance from the JD Group.
  • Acted as Bermuda counsel to Gemini, the US regulated cryptocurrency exchange and custodian, on its application to the Bermuda Monetary Authority to launch its captive insurance company, Nakamoto, Ltd – the world’s first captive to insure crypto custody.

ASW Law Limited

The team at ASW Law Limited focuses on handling high-value, multijurisdictional M&A transactions for clients in the insurance and reinsurance sector. Headed up by Neil Horner, who advises on large corporate finance transactions and major M&A mandates for stock exchange-listed companies, the department also acts on general corporate and commercial matters, including corporate restructuring issues, which are often led by insolvency group head Kehinde George. Other names to note include counsel Hanno Tolhurst and senior counsel Kim Willey.

Practice head(s):

Neil Horner; Kehinde George

Testimonials

‘Very knowledgeable and responsive, compares well to other firms.’

‘I’ve been very impressed with Rebecca Vernon, she is a pleasure to deal with!’

‘We are working with ASW on a very complex cross-border transaction. ASW’s creativity and responsiveness in helping develop the transaction structure were second to none.’

‘Neil Horner and Kim Willey are both excellent – creative, responsive, practical.’

Key clients

Covéa Mutual Insurance Group Company

American International Group, Inc.

Markel Corporation

Catalina Holdings (Bermuda) Ltd

The Prudential Insurance Company of America

Fidelity National Financial, Inc.

State Grid International Development Co., Ltd

Marubeni Corporation

Cosan Limited

Stryker

Bank of New York Mellon

Deloitte Ltd

Finance & Risk Services Ltd.

Work highlights

  • Advised Covéa Mutual Insurance Group Company on all Bermuda legal aspects of its proposed acquisition of the Partner Re group from EXOR.
  • Advising Marubeni Corporation on all Bermuda aspects of its acquisition by way of reverse triangular merger with Aircastle Limited, a Bermuda incorporated aircraft leasing company listed on the NSE.
  • Advised Stryker on all Bermuda legal aspects of its acquisition of Wright Medical Group N.V., the global medical device company focused on extremities and biologics.

Carey Olsen Bermuda Limited

Founded in 2018, the Bermuda corporate and commercial team at Carey Olsen Bermuda Limited has notably expanded its capabilities; recent work ranges from corporate finance and corporate structuring issues to insurance and reinsurance matters. Consolidating its presence in the Bermudan market, the team has built on its insurance sector focus and is increasingly sought out by financial services clients. Key areas of strength include M&A and general insurance mandates, including advising on incorporation issues and regulatory requirements. M&A expert Mary Ward and Gavin Woods, who is particularly active in insurance and reinsurance mandates, are the primary names to note.

Practice head(s):

Mary Ward; Gavin Woods

Other key lawyers:

Michelle Falcucci

Testimonials

‘The team in Bermuda was able to deliver and maintain excellent quality of service throughout the challenging lock-down period. Mary Ward, was very ably supported by Michelle Falcucci during this period, and both went the extra mile to ensure that service levels remained consistently high.’

‘Mary Ward – unmatched depth of knowledge and technical expertise, she is a big hitter and is the person you want on your team for any big, complex or technical instruction.’

‘Gavin Woods – excellent insurance background and known as leader in the field, extremely commercial and personable with depth of knowledge you only get from having been involved in back to back significant market transactions.’

‘Michelle Falcucci – stand out star – always comes back on time with excellent commercial advice, doesn’t miss a beat and clearly has great things in her future.’

Key clients

Bridgepoint Advisers Limited

Watford Holdings Ltd.

Monument Re

MagicLab

Work highlights

  • Advised Bridgepoint on all Bermuda law matters on its sale of Estera to Inflexion Private Equity.
  • Advised the majority shareholders in MagicLab – parent to Badoo, Bumble, Chappy and Lumen – on the sale of a majority stake to Blackstone Group Inc. for a consideration of $3bn.
  • Advising Watford Holdings Ltd on all Bermuda law aspects on its acquisition of 100% of Axeria IARD, a French property and casualty insurance company, from April Group.

Cox Hallett Wilkinson Limited

Cox Hallett Wilkinson Limited primarily advises on the Bermudan elements of M&A deals, with expertise in the captive insurance, natural resources, aviation, shipping, investment funds, retail and telecoms sectors. Managing director Ernest Morrison also assists clients with corporate governance and regulatory issues. Janice Gutteridge and Kathleen Moniz are other key practitioners in the space.

Practice head(s):

Ernest Morrison

Other key lawyers:

Janice Gutteridge; Kathleen Moniz