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Articles by Adam Bathgate
Close-out netting and set-off for segregated cell insurers: Bermuda vs Cayman analysis
Why this matters for legal, capital and actuarial teams Legal teams care about recourse, attribution and enforceability; capital teams care about collateral architecture and counterparty credit; actuarial and reserving teams care where recoverability or security assumptions are being made against the wrong asset pool. Segregated cell structures change netting and set-off analysis The real question is not simply whether the master agreement contains netting language.
Close-out Netting And Set-off For Segregated Cell Insurers: Bermuda vs Cayman Analysis
W Walkers More Walkers is a leading international law firm which advises on the laws of Bermuda, the British Virgin Islands, the Cayman Islands, Guernsey, Ireland and Jersey. From our 10 offices, we provide legal, corporate and fiduciary services to global corporations, financial institutions, capital markets participants and investment fund managers.
Update on the Removal of the Cayman Islands from the FATF's List of Jurisdictions Under Increased Monitoring | JD Supra
Following the conclusion of the most recent plenary of the Financial Action Task Force ("FATF") on 23 June 2023, the FATF has announced that it has made the initial determination that the Cayman Islands has substantively completed the one remaining item on its action plan.
Bermuda emerging as jurisdiction of choice for European investors in CRE CLOs
Since the Cayman Islands were added to the EU AML list in February 2022, Walkers has moved multiple CLO deals to Bermuda, with the first such deal closing in late March that same year. Of late, the Bermuda team has seen an uptick in the number of commercial real estate (or “CRE”) CLO issuers being incorporated in the jurisdiction, and the indications are that Bermuda has emerged as the jurisdiction of choice for US CLO managers seeking to market CRE CLO deals to EU investors.
Bermuda Insights: Trends And Opportunities 2022
As part of our five year anniversary celebrations of our law firm opening in Bermuda, we put together the original version of this summary report highlighting the latest developments and trends in the Bermuda legal and financial services sectors. Our original report was very well received and Bermuda continues to evolve in exciting ways as a leading international financial centre. We have therefore updated and reissued Bermuda Insights.
Bermuda Insights: Trends and Opportunities 2022 | JD Supra
As part of our five year anniversary celebrations of our law firm opening in Bermuda, we put together the original version of this summary report highlighting the latest developments and trends in the Bermuda legal and financial services sectors. Our original report was very well received and Bermuda continues to evolve in exciting ways as a leading international financial centre. We have therefore updated and reissued Bermuda Insights... Download PDF
A Jurisdiction Of Choice For EU Investors In CLOs
Following the inclusion in February 2022 of the Cayman Islands on the European Union's AML list, managers and investors have been turning to Bermuda as an alternative jurisdiction in which to incorporate issuers of collateralised loan obligations where the investor base is anticipated to include those based in the EU. A collateralised loan obligation ("CLO") is a type of securitisation whereby a portfolio of (usually leveraged) loans are pooled into a series of marketable debt securities.
Bermuda CLOs: Top 3 Tips
Bermuda and Collateralized Loan Obligations ("CLOs") Following the inclusion in February 2022 of the Cayman Islands on the European Union's AML list, managers and investors have been turning to Bermuda as an alternative jurisdiction in which to incorporate issuers of collateralised loan obligations where the investor base is anticipated to include those based in the EU.
Key Trends For 2022 – Structured Finance - Finance and Banking - Worldwide
To print this article, all you need is to be registered or login on Mondaq.com. Despite the impact of the Global Pandemic, the structured finance market enjoyed strong performance in 2021, with signs that 2022 will see more of the same, supported by wider economic growth. There are positive signs across our jurisdictions, including promising ABS deals, continued strong performance in Europe, and sustained use of BVI by PRC issuers.
Law And Practice - Finance and Banking - Bermuda
To print this article, all you need is to be registered or login on Mondaq.com. 1. Loan Market Panorama 1.1 Impact of Regulatory Environment and Economic Cycles There have not been any significant legislative or regulatory changes affecting the rights of lenders or secured creditors, or that would affect Bermuda's status as a leading creditor-friendly jurisdiction.
Chambers Global Practice Guide 2020: Banking & Finance – Bermuda: Law And Practice - Finance and Banking - Cayman Islands
To print this article, all you need is to be registered or login on Mondaq.com. 1. Loan Market Panorama 1.1 Impact of Regulatory Environment and Economic Cycles There have not been any significant legislative or regulatory changes affecting the rights of lenders or secured creditors, or that would affect Bermuda's status as a leading creditor-friendly jurisdiction.
Update to Bermuda's economic substance legislation | Lexology
In June 2019 there were a number of important updates to Bermuda's economic substance regime ahead of the 1 July 2019 compliance deadline for entities in existence when the economic substance legislation came into force. This article summarises these developments. Entities tax resident overseas out of scope The Economic Substance Amendment Act 2019 came into force on 28 June 2019.
Why offshore for fintech? | Lexology
Fintech is changing the way banking and financial services businesses are operating at an incredible pace. There are many challenges and opportunities that face financial institutions, business, investors and start-ups. As with much new technology, the speed of change in the fintech sector frequently outstrips the legal and regulatory landscape and fresh approaches are required to adapt.
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