Bermuda appraisal proceedings are treated as a quasi‑inquisitorial process. The Court must appraise “fair value” and ensure that the valuation experts and the Court have all relevant material. In practice, this produces a robust discovery regime with the company bearing the primary burden to give wide, early disclosure of valuation‑relevant information, tempered by proportionality and case‑management controls. Dissenters also have discovery obligations, but these are more limited.