Americas Restructuring Review 2026

Legal framework

Bermuda is an overseas territory of the United Kingdom and its legal system is based on English common law, comprising statute and case law. Decisions of the English courts are not binding on a Bermuda court, although they are highly persuasive. The decisions of the Privy Council, however, are generally binding on the Bermuda courts, unless they are based on a reference from a jurisdiction with considerably different statutory provisions and policies. The Privy Council is Bermuda's highest appellate court and sits in London.

Bermuda's insolvency landscape

Bermuda's insolvency law statutory framework consists of statute and common law. The principal statutory provisions governing corporate insolvency and restructuring are contained in Part XIII of the Companies Act 1981 (Companies Act) and are supported by the Companies (Winding-Up) Rules 1982 (the Winding-Up Rules).¹ The Companies Act is based on the English Companies Act 1948 and the