First published in The Law Reviews, December 2019
The seventh edition of The Insolvency Review offers an
in-depth review of market conditions and insolvency case
developments.
I INSOLVENCY LAW, POLICY AND PROCEDURE
i Statutory framework and substantive law
Bermuda is an overseas territory of the United Kingdom and its
legal system is based on English common law, which comprises
statute and case law. Decisions of the English courts are not
binding on a Bermuda court, but they are highly persuasive.
However, in general, the decisions of the Privy Council are binding
on the Bermuda courts unless they are based on a reference from a
jurisdiction with significantly different statutory provisions. The
Privy Council is Bermuda's highest appellate court and sits in
London. Bermuda's Commercial Court, a division of the Supreme
Court of Bermuda, hears matters relating to insolvency.
