Bahamas updates
Aviation
Contributed by Callenders & CoGreat strides made towards enhancing aircraft registry and ratifying Cape Town Convention
- Bahamas
- 27 March 2019
The Bahamian government continues to make progress towards enhancing its aircraft registry and ratifying the Cape Town Convention. For example, the Aviation Steering Committee (ASC) recently presented draft legislation to implement the Cape Town Convention to the Attorney General's Office. The ASC expects this draft legislation to be approved and presented to the Cabinet before the next government budget communication in Summer 2019.
Change is in the air: implementation of national aviation policy and ratification of Cape Town Convention
- Bahamas
- 19 December 2018
For the first time, The Bahamas has embarked on an ambitious project to develop a national aviation policy to better coordinate and facilitate civil aviation activities to, from and within the country. Further, the ratification of the Cape Town Convention will better position The Bahamas as a key player in the global industry in terms of financing and leasing aircraft and will allow the country to compete in the aviation industry on a global level.
Offshore drones: a broadening horizon
- Bahamas
- 24 October 2018
The Bahamas is ripe with opportunity and well positioned in what has become a new global industry within the civil aviation sector. The numerous remote islands in the country afford many possibilities regarding the operation and testing of drones as they become more sophisticated and start to be used for various operations. Drone operators, whether commercial or recreational, must be mindful of privacy, data collection and use and nuisance.
Preparing for take-off: transforming the civil aviation sector
- Bahamas
- 12 September 2018
The Bahamian authorities recently embarked on an ambitious project to reform and enhance the country's civil aviation sector. These efforts will enhance the country's standing in the global arena, where aviation is experiencing considerable and dynamic growth. Such growth will benefit not only the country's civil aviation sector, but also its financial services and private sectors.
Litigation
Supreme Court evaluates scope of trustees' protection in contentious trust litigation
- Bahamas
- 07 August 2018
The Supreme Court recently assessed the protection afforded to trustees by virtue of Section 83 of the Trustee Act 1998, which provides that a trustee cannot be bound or compelled by way of discovery to disclose information and documents about a trust. In Dawson-Damer, a trustee had used Section 83(8) as a basis to refuse a disclosure request. The applicant's case was built primarily on the allegation of a breach of duty (ie, the trustee had failed to consider the applicant's needs).
Private Client & Offshore Services
Contributed by Lennox PatonBahamian insolvency regime continues to promote judicial efficiency
- Bahamas
- 28 February 2019
The Bahamian legislature continues to examine its existing legislation for ways to promote judicial efficiency by amending and implementing new procedures in its insolvency regime. As the global economy continues to grow and foreign companies and investors increasingly face obstacles arising from the use of offshore structures, the need for cross-border insolvency proceedings and the use of protection afforded to investors will likely continue to increase.
Buying real estate – when to engage an attorney?
- Bahamas
- 21 February 2019
After finding the ideal property to purchase, what is the next step? Engage an attorney. An attorney can help to connect real estate buyers with key service providers in order to arrange, among other things, home inspections or insurance. Involving an attorney will make the difference between a smooth transaction that meets the expectations of the buyer versus one that is fraught with issues, unrealistic expectations and other obstacles which could have been avoided with the benefit of early advice and proper planning.
Foreign direct investment in real estate market
- Bahamas
- 14 February 2019
Foreign direct investment (FDI) remains one of the key catalysts to the Bahamian economy's growth and sustainability. The Bahamas National Investment Policy seeks to boost the economy through investments and provide favourable returns for investors. To this end, it encourages FDI in key areas in the real estate market, including tourist resorts, upscale condominiums, timeshares and second-homes and marinas.
Supreme Court evaluates scope of trustees' protection in contentious trust litigation
- Bahamas
- 09 August 2018
The Supreme Court recently assessed the protection afforded to trustees by virtue of Section 83 of the Trustee Act 1998, which provides that a trustee cannot be bound or compelled by way of discovery to disclose information and documents about a trust. In Dawson-Damer, a trustee had used Section 83(8) as a basis to refuse a disclosure request. The applicant's case was built primarily on the allegation of a breach of duty (ie, the trustee had failed to consider the applicant's needs).
Payment of preferential debts out of assets subject to floating charge not permitted
- Bahamas
- 26 October 2017
The Supreme Court recently considered whether preferential creditors have any claim against the moneys received by receiver-managers for the sale of assets subject to a charge. The court determined that a floating charge which crystallised before the making of a winding-up order takes priority over other creditors.
