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Managing your Bermuda business and transactions during the COVID-19 pandemic [Updated 6 April 2020]

Conyers is very mindful of the strains that are being placed on our clients during the present Covid-19 crisis. We would like to reassure you of our continued support and provide an update on the operation of our Bermuda office and international business support in the jurisdiction.  In addition, in these exceptional circumstances, there are practical challenges which you are likely to encounter in the handling of business transactions and the day to day running of your operations. We have set out some guidance on such matters.

Conyers’ Bermuda office

Our dedicated attorneys, corporate managers and administrators are working normal hours, but are now working remotely. Our systems and processes are designed to securely support this type of working environment, which enables us to ensure that our clients’ interests continue to be protected and advanced in these difficult times, whilst prioritising the safety and well-being of our people.

Meetings

Bermuda entered a two-week period of strict lock-down from Saturday 4 April; physical meetings may not take place during that period. In addition, due to passenger flight restrictions, board members and advisors who would ordinarily travel to Bermuda in order to participate in meetings will not be able to do so for at least the next several weeks. The Bermuda Monetary Authority (BMA) has assured regulated entities that it will not enforce regulatory requirements associated with the need to hold Board/committee meetings in Bermuda during the first half of 2020.  However, meetings should continue to be held by audio or video conferencing. Notice of meetings should be given to all directors, and other formalities observed, in the usual way. Directors of Bermuda companies are advised to examine their bye-laws to determine if meetings may be held by telephone or video-conferencing link.

 

To continue reading full articles in PDF format:
Managing your Bermuda business and transactions during the COVID-19 pandemic [Updated 6 April 2020]

 


Julie E. McLean
Director

Bermuda   +1 441 299 4925



Edward Rance
Associate

Bermuda   +1 441 278 7904