The Weekly Law Reports
[2019] 3 WLR 391
Privy Council
Walkers (Bermuda) Ltd
v
Bermuda Bar Council
[On appeal from the Court of Appeal for Bermuda]
[2019] UKPC 25
2019 Jan 29;
June 10
June 10
Lord Reed DPSC, Lord Kerr of Tonaghmore, Lord Hodge, Lord Briggs, Lady Arden JJSC
Bermuda— Company— Control— Prohibition on control of local companies by non-Bermudians— Bermudian company making draft agreement with global law firm— Proposed agreement preserving Bermudian control of all company-related voting rights but allowing for effective commercial control by global firm— Whether company “controlled by Bermudians”— Whether “control” to be determined by reference to voting power of directors and shareholders or to wider commercial arrangements—
Bermuda Bar Act 1974, s 16C (as inserted by Bermuda Bar Amendment Act 2009, s 10)
—
Companies Act 1981
(Bermuda)
, s 114, Sch 3, Pt I (as amended by Companies Amendment Act 1996, s 13)