Cross-Border Insolvency in Bermuda: Cambridge Gas Revisited

(2018) 4 Insolvency Intelligence 118

10 Pages Posted: 23 Jun 2018 Last revised: 18 Nov 2018

See all articles by Jason Fu

Jason Fu

University of Oxford, Faculty of Law

Date Written: June 6, 2002

Abstract

This article considers the Bermudian case of Re Seadrill Limited, where the Supreme Court of Bermuda was once again confronted with cross-border insolvency issues stemming from US Chapter 11 reorganisation proceedings. I argue the difficult reasoning employed to “recognise” the Chapter 11 order was explicable in the aftermath of Rubin and Singularis. I show how the Bermuda court has now struggled to apply the common law power of judicial assistance in resolving cross-frontier issues, feeling the pressure to square its analysis with Rubin and Singularis and, in doing so, distinguish Cambridge Gas. I further argue there is still much to be said about Cambridge Gas, which should not be regarded as having been rejected in its entirety. Lastly, I suggest recent decisions in this area, including the Bermudian cases, do add to the sense that there really is something special about insolvency, for which the prescriptions of traditional private international law are inadequate.

Suggested Citation

Fu, Jason, Cross-Border Insolvency in Bermuda: Cambridge Gas Revisited (June 6, 2002). (2018) 4 Insolvency Intelligence 118. Available at SSRN: https://ssrn.com/abstract=3191950 or http://dx.doi.org/10.2139/ssrn.3191950

Jason Fu (Contact Author)

University of Oxford, Faculty of Law ( email )

Mansfield Road
Oxford, Oxfordshire OX1 4AU
United Kingdom

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