Bermuda to introduce LLC legislation
The Bermuda Government has proposed to introduce limited liability company (LLC) legislation based on Delaware’s statute.
The core of the new Bermuda LLC legislation is largely based on the same provisions from the Limited Liability Company Act in Delaware.
Conyers Dill & Pearman anticipates that this approach will be welcomed by US counsel, as Bermuda LLCs will be familiar to them in both form and substance and will benefit from existing practice and jurisprudence in relation to the corresponding Delaware provisions.