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On the same day that it emerged from a chapter 11 bankruptcy process, Bermudian-based offshore drilling company Seadrill Limited has reported a net profit of $18 million in the second half of 2021. That compares with a $605 million loss in the first ...

Seadrill Limited, the offshore drilling company based in Bermuda, has announced that it anticipates soon emerging from chapter 11 bankruptcy, possibly as early as this week. Seadrill's chapter 11 plan of reorganisation was confirmed by the US Bankrup...

Economic and financial difficulties may have ended the dream for the owners of a North Shore nightclub for a mature clientele. A Supreme Court judge has refused to halt a writ of possession for 81 North Shore Road, Devonshire, in relation to the 2018...

Bermuda’s reputation as a place for insurance run-off excellence grew continually in 2020, a leading executive in the Bermuda office of professional services firm PwC has said. James Ferris, a partner and leader of the Bermuda Advisory practice, said...

Digicel Group One Ltd, the telecommunications group’s Bermudian-based holding company, has gone into provisional liquidation in Bermuda. The company has also filed for Chapter 15 recognition at US bankruptcy court in Manhattan. However, Digicel said...

A former client of a bankrupt lawyer said yesterday he had never paid her any money on the more than $63,000 that a court ruled was owed to her. Lynda Swan added that she feared barrister Rick Woolridge would never pay back the cash as ordered by the...

A Bermudian lawyer has blamed his bankruptcy on unpaid client bills of more than $1.5 million. Rick Woolridge said yesterday: “I’ve got $1.7 million worth of receivables in the street. Mr Woolridge explained: “I’m in the process now of suing people ...

Former employees of the collapsed White’s grocery stores will receive some of the money they are owed, the official liquidators said yesterday. Mike Morrison and Charles Thresh of professional services firm KPMG, who are the joint liquidators, confir...

A bankruptcy judge this week delves into key issues in the worst municipal bankruptcy in US history. And in the middle is a Bermuda insurer whose holding company lists a Bermuda cabinet minister as a director. The case is scheduled to go to trial in ...

Chief Justice Ian Kawaley sent the plaintiffs in the $1 million Civil Court case against Gary and Michael White back to the drawing board. Following a hearing in chambers yesterday, Justice Kawaley gave Pitt & Company 14 days to re-amend their pleadi...