Kennedys Bermuda

“Why wouldn’t you want to jump off a platform into the sea, climb over a bus (twice) and slip-n-slide down to the beach, all in one weekend?” That’s the question four of our (plucky?) associates asked themselves when they signed up for this year’s Bermuda Triple Challenge. Our Bermuda team, last weekend, defeated 3 assault courses designed, we suspect, to test the limits of a lawyer’s endurance. They ran, swam, climbed, swung and crawled all over Bermuda’s iconic beaches, towns and parks. Proof that no obstacle, professional or otherwise, is insurmountable for our associates. Congratulations to all that participated! 🏆 Kiah A. Vinesh Mistry Artem Piatine Mark Chudleigh Nick Miles Laura Williamson Simon Benedek

Congratulations to Kennedys’ Ciara Burrows on her admission to the Bermuda Bar! At her recent call ceremony before Bermuda’s Chief Justice Ciara expressed heartfelt gratitude to her "global village" for their unwavering support throughout her decade-long journey, acknowledging the law firms, insurers and others that provided scholarships and encouragement along the way. Excited to see her continued growth and contributions to the legal profession. #BermudaBar #LegalExcellence #Kennedys

Bermuda has long been recognized as a premier offshore financial center, offering political, economic, and social stability alongside a sophisticated banking sector. Simon Benedek and Stebin Sam authored the Bermuda chapter for the Global Legal Insights - Banking Regulation 2025 guide, providing a comprehensive analysis of the regulatory framework. Their analysis covers key developments, including the Bermuda Monetary Authority’s licensing of Jewel Bank, Bermuda’s role as a Fintech hub, Basel III implementation, deposit insurance reforms and proposed banking regulations to enhance access and consumer protection. 📖 Read more here: https://lnkd.in/epSvz4tX

The Bermuda Monetary Authority (BMA) recently released a consultation paper, Operational Resilience and Outsourcing Code, which outlines standards that the BMA has designed to bolster the financial service sector's ability to pre-empt, adapt, manage, recover from, and learn from operational disruptions. Nick Miles and Megan Denos discuss the key highlights of the consultation paper and more in their latest article: https://lnkd.in/g5hMXEX2

A month on from Bermuda’s new data protection legislation coming into effect (the Personal Information Protection Act or “PIPA”), Kennedys’ cyber team were delighted to join forces with insurance brokers Miller Insurance Services LLP to deliver training to members of the Bermuda Bar Association this week. George Chaisty of Kennedys and Calum MacLean of Miller provided an overview of the emerging cyber-attack types impacting the legal industry, including evolving social engineering methods, the targeting of junior lawyers’ use of publicly available precedent documents, and the increasing deployment of deepfake technology by cybercriminals. Should anyone want to know more about the #cyberthreats facing your business, or if you are keen to better understand the impact of Bermuda’s new data protection regulations on your business, please get in contact with George Chaisty at Kennedys, Manchester or Mark Chudleigh at Kennedys, Bermuda.

We acted for the successful applicant in what appears to be the first reported case in Bermuda striking out proceedings for “contumelious” delay, with Erik Penz conducting the advocacy and Laura Williamson managing the conduct of the proceedings. In HSBC v Vigilante [2024] SC (Bda) 74 civ, HSBC successfully pursued a defendant to judgment on a guarantee. That defendant then sought to proceed with a long-dormant third party notice he had issued in the same proceedings. The defendant alleged that a letter of undertaking the third party provided to HSBC constituted “further security” on the guaranteed loan which gave rise to the defendant’s claim against the third party for contribution and indemnity. However, the Bermuda court found that the defendant’s failure to pursue the third party for almost a decade after issuing the third party notice, including when the court had given directions for the trial of HSBC’s claim against the defendant, was intentional delay and thereby amounted to an abuse of process. The ruling provides helpful guidance as to what sort of litigation conduct may amount to contumelious delay, as well as the rights of third parties in litigation and the obligations owed by the defendants who bring them in. Our case comment, including a link to the ruling, can be found here: https://lnkd.in/gp4TAzqz

Nick Miles will be attending #ReFocus2025 at #TheFontainebleau Las Vegas. Please reach out if you are attending!

We could make a joke about "cutting down the competition", but that's not in keeping with Bermuda's legal community. Camaraderie and collegiality, core tenets of this jurisdiction, start in the office. So here are a few pictures of our team throwing axes, knives and shovels (yes, shovels) last week. Camaraderie and collegiality, after all, start with a bit of fun. Mark Chudleigh Laura Williamson Nick Miles Simon Benedek Sabrina Cunningham Kiah A. Reid Orchard Chaim Schtroks Vinesh Mistry

Congratulations to our Bermuda team for their outstanding recognition in the latest Chambers Global rankings! We earned a new Band 1 position for Insurance: Contentious and achieved strong rankings across multiple practice areas, including Band 2 for Dispute Resolution, Band 3 for Insurance, and Band 4 for Corporate & Finance. Cheers to our individually ranked lawyers: Mark Chudleigh, Nick Miles, Simon Benedek and Erik Penz For our full rankings, visit: https://lnkd.in/ezsDdaQN #ChambersGlobal #InsuranceLaw #DisputeResolution #Bermuda

Asset-intensive reinsurance: effective regulation requires tools in cedent as well as reinsurer jurisdictions Strategic alliances with asset management firms have produced greater capacity, diversification and more sophisticated asset-liability matching capabilities within the life and annuity sector. They have also altered traditional investment strategies in the sector. A White Paper published by the Bermuda Monetary Authority highlights current and proposed regulatory practices designed to ensure that asset-intensive business (more specifically, the reinsurance of it) is appropriately regulated in Bermuda. But effective supervision does not stop at the regulation of reinsurers. It is just as important that cedents manage the risks to which they are exposed in relation to asset-intensive reinsurance arrangements. The White Paper endorses initiatives in cedent jurisdictions to evaluate and if necessary improve local supervisory tools and expectations. Nick Miles Reid Orchard Megan Denos For more details, visit: https://lnkd.in/gCqJ3ewg