Banking & Finance

Bermuda companies are commonly used in a broad range of sophisticated banking and finance transactions as a result of Bermuda’s well-regarded regulatory environment, political stability and progressive economy.  Wakefield Quin regularly advises leading international financial institutions, funds and other investors on syndicated and non-syndicated credit facilities and security arrangements in the areas of project and asset finance, property financing and general corporate banking.  Our lawyers have extensive experience drafting loan, security, priority, subordination and inter-creditor agreements, as well as rendering transactional and considered legal opinions and securing priority ranking of security over Bermuda assets and security granted by Bermuda entities.

We advise on ISDA, GMRA and GMSLA documentation.  We assist banks, prime brokers and funds on local licensing, registration, netting and collateral issues related to credit and equity derivative transactions, securities lending agreements and prime brokerage structures with Bermuda counterparties.

Corporate & Commercial

Wakefield Quin has a highly respected Corporate Department with experienced lawyers from leading international law firms and global financial institutions that focus on providing timely, sophisticated and solution-driven legal advice.  We regularly advise both public and private clients on domestic and cross border mergers and acquisitions, takeovers, corporate finance, equity and debt offerings, private placements, schemes of arrangement and corporate restructurings.

Given the stability and sophistication of the jurisdiction, Bermuda is a popular choice for the establishment of investment funds, insurance and reinsurance companies, limited partnerships and joint ventures.  We have extensive experience advising Bermuda entities on establishing business operations in Bermuda covering licensing, permit, reporting, employment, immigration and other regulatory requirements.  Our corporate lawyers work closely with our affiliated service companies to provide a complete and seamless professional service, including incorporation, administration and management services to both our domestic and international clients.

Insurance

Bermuda has grown to be the world’s third largest insurance centre after London and New York.  Wakefield Quin’s insurance and reinsurance practice is geared to offering a comprehensive service to clients engaged in the insurance industry.  Our lawyers advise clients on the establishment, licensing and operation of insurance companies (whether captives, reinsurers or otherwise), brokers, managers and agencies, including segregated accounts companies, portfolio companies and special purpose insurers formed as issuers of insurance linked securities.

Our insurance group advises on capital raising, mergers and acquisitions, re-domestications, financing and collateral arrangements, captive and rent-a-captive programmes, as well as rendering advice on corporate governance and regulatory compliance matters including Solvency II requirements.  We also have considerable experience reviewing policies and the form and substance of insurance certificates and cover notes.

Intellectual Property

Bermuda is recognised as an effective jurisdiction to protect intellectual property rights, including rights in the form of trademarks, service marks, copyrights, patents and designs.  We advise clients on the registration, commercialization and licensing of intellectual property, as well as structures to manage Intellectual Property rights in a cost efficient manner.   Our lawyers have experience representing clients in both protecting and enforcing intellectual property rights.

Insolvency & Restructuring

Bermuda law provides a detailed framework for the dissolution of companies and protection of creditors’ rights on insolvency.   Our insolvency and restructuring lawyers have a wide range of expertise advising on contentious and non-contentious insolvencies and restructurings.  Wakefield Quin advises companies and their directors as well as creditors and professional advisers on a wide variety of matters ranging from winding-up procedures to formulating schemes of arrangement and corporate rescues for shareholder and creditor groups to enable companies to reorganize or refinance their debt and other obligations.  Our lawyers advise on a number of cross-border matters, including co-ordination insolvency and corporate reorganization proceedings, and the recognition of foreign judgements and liquidators and receivers appointed in other jurisdictions.

We have considerable experience acting for liquidators and provisional liquidators.  We regularly represent creditors, shareholders and directors in relation to the appointment and removal of liquidators and in the recovery and protection of assets including in cases of fraud and constructive trust proceedings.

Litigation Services

Litigation matters are often complex and cover a number of practice areas. As a result, our Litigation Team has developed considerable experience in all areas of contention and we often act as counsel for both large companies and private individuals. Our lawyers have considerable experience acting in broad commercial disputes, insurance and reinsurance litigation, trust and property litigation, fund litigation, insolvency and restructuring, contentious and non-contentious employment and immigration matters, matrimonial litigation and general family law, debt collection and probate. We regularly appear in all levels of the judiciary, from Magistrates’ Court to the Court of Appeal (which is Bermuda’s highest appellate Court).

While litigation may be necessary in some cases, we take the time to understand your needs and endeavor to resolve your case by the most efficient means possible. In appropriate cases, our lawyers can advise on the various alternative dispute resolution methods, such as arbitration. In addition, our lawyers can be instructed to make applications to the Supreme Court for interim injunctions on an urgent basis. We understand that litigation can often be stressful, so we do all we can to handle each case as expeditiously and efficiently as possible while always remaining strategic in order to obtain a desirable outcome.

For more detailed information see: Litigation services

Funds & Investment Services

Wakefield Quin is recognised as having one of Bermuda’s leading investment fund practices.   Our lawyers act for leading asset managers, start-up managers, institutional investors, prime brokers and promoters in relation to investment funds, hedge funds, alternative investment funds and private equity investment structures.  We regularly advise on fund and investment vehicle formation, security offerings and placements, fund restructuring projects, licensing and regulatory requirements, fund governance and compliance, and filing and disclosure requirements.

We can advise on the structure, service provider arrangements and documentation required for the establishment of a fund and through our fund administration and listing sponsor company, Harbour Financial Services Limited, we can provide ongoing fund administration services and arrange the listing of shares of a fund on the Bermuda Stock Exchange.

Property

Wakefield Quin has one of the leading commercial and residential property practices in Bermuda.  Our lawyers provide innovative and practical legal advice to a broad range of industry participants in all types of property and conveyancing transactions.  We regularly act for lenders (commercial banks, investment banks and finance companies), developers and equity investors in all major real estate product areas, including office, commercial, industrial, multi-family and hotel/hospitality.  Our lawyers have extensive experience advising on the acquisition, development, management and disposal of real estate, including leases, sale-leasebacks, market standard and complex financings, and restructurings.

Non-Bermudians must obtain a licence from the Bermuda government to acquire real estate in Bermuda and are restricted to owning qualifying properties.  Wakefield Quin has extensive experience advising on all stages of the application process and provides clients with a seamless service from start to finish.

The team comprises Michelle Stone: Head of Department, Scott Swainson: Senior Counsel, Celia Tuzo: Associate Attorney, Katrina Dickson: Associate Attorney, Isabel Tucker: Paralegal, Damita LeShore: Executive Assistant and Yvette Davis: Vault Custodian and Search Assistant.

Wakefield Quin is a LEGAL 500 Category 1 ranked firm for property transactions in the region and Michelle Stone and Scott Swainson are jointly ranked Category 1 “leading individuals” in the field.

Regulatory Advice

Bermuda has earned the reputation as a mature, blue-chip international financial centre which offers innovative financial services and products in the areas of banking, funds, insurance, investment business and trusts.

Wakefield Quin advises leading international financial institutions on all key compliance and regulatory matters including anti-money laundering and anti-terrorist financing, business conduct, data protection, FATCA and CRS, financial services, foreign exchange controls, international sanctions, treaty obligations and telecommunications.  Our lawyers advise clients on applications for insurance, investment business and trust licenses and on the application of rules, policies and procedures issued by the Bermuda Monetary Authority, as well as any associated statements of principle and guidance notes.

Trusts & Private Client

Bermuda is a leading jurisdiction in which to establish and administer trusts.  Whilst largely based upon English law, Bermuda has developed an effective and well regarded legislative framework for Bermuda trusts.  Trusts are commonly utilized to achieve objectives such as asset protection, wealth management and preservation, tax planning, and for a variety of other business and commercial objectives.  Our trust lawyers regularly act for trustees, beneficiaries and settlors, as well as protectors and enforcers, and have considerable experience advising international corporate clients on a broad range of commercial trust structures such as insurance trusts, special purpose trusts, pension trusts, unit trusts and employee benefit trusts.  Through Winchester Global Trust Company Ltd., our affiliated fully-licensed trust company, we are able to provide our clients with a full range of trustee services and trust administration services, including acting as a trustee for discretionary trusts.

Wakefield Quin also advises charities, foundations, families and high net worth individuals on investment structures, international estate planning and private trust company arrangements.  We frequently prepare wills and codicils and apply for grants of probate and letters of administration to ensure the orderly succession of assets which may entail resolving complex issues of private international law in cross-border matters.