Fraud, Asset Tracing & Recovery 2021/2022 – Bermuda (Commercial Dispute Resolution, CDR)

This guide explores the latest legislative, regulatory and enforcement developments in Bermuda, and provides expert analysis on industry-wide topics including cryptocurrency fraud, confiscation proceedings and the coronavirus pandemic.

1. Important Legal Framework and Statutory Underpinnings to Fraud, Asset Tracing and Recovery Scheme

Bermuda's constitution establishes the Supreme Court as the primary court of first instance and the Court of Appeal as the court with jurisdiction to hear appeals from judgments of the Supreme Court. The Judicial Committee of the Privy Council is Bermuda's final court of appeal. The common law, the doctrines of equity, and the Acts of the Parliament of England of general application that were in force in England at the date when Bermuda was settled on the 11 July 1612, have force within Bermuda pursuant to the Supreme Court Act 1905 (subject to the provisions of any acts of the Bermuda Legislature).