The current officers are:
Mike Morrison, Chairman, Teneo
[email protected]
Rachelle Frisby, Treasurer, Deloitte
[email protected]
Mathew Clingerman, Secretary, Kroll
[email protected]
 
Committee Members:
Kehinde George, ASW
[email protected]
Nick Miles, Kennedys
[email protected]
Lilla Zuill, Harneys
[email protected]
 
Informal Committee Members:
Michael Penrose, EY
Mike.penrose@parthenon. ey.com
Clive Fortis, KRyS Global
[email protected]
Joseph Gordon, PwC
[email protected]

RISA was established by Bermuda based insolvency practitioners in 2015 to promote and support the development of the insolvency and restructuring industry in Bermuda.

Legislation
In general, the primary legislation that governs Bermuda corporate insolvency and restructuring matters is the Companies Act 1981 and the Companies (Winding-up) Rules 1982. Other relevant legislation includes the Bankruptcy Act 1989, the Insurance Act 1978, the Segregated Accounts Companies Act 2000, the Banking (Special Resolution Regime) Act 2016, and the Segregated Accounts Companies Amendment Act 2021.
RISA is currently exploring areas where existing insolvency and restructuring legislation can be updated and amended, in consultation with the Bermuda Government, the Bermuda Monetary Authority, and the Bermuda Judiciary.

Jurisdiction
Bermuda is a self-governing British Overseas Territory. Less than two hours from New York, Bermuda fosters a collaborative business culture that sees Government, industry and regulators working together for the jurisdiction’s commercial success. As an international financial centre with a stable legal, political, and economic environment, Bermuda is recognised worldwide for its high standards of regulation, compliance, transparency and infrastructure.

Bermuda is the domicile of choice for a vast range of legal structures and transactions in all facets of international commerce. Bermuda has particular strengths in insurance and reinsurance, insurance-linked securities (ILS), investment funds and collective investment schemes, investment business, banking, trusts, and the provision of corporate and professional services across a wide range of industries.

The European Commission has officially recognised Bermuda’s commercial insurance regulatory framework as being fully equivalent to regulatory standards applied to European insurance companies in accordance with the requirements of the Solvency II Directive. The United States National Association of Insurance Commissioners has also designated Bermuda as a “qualified jurisdiction” in respect of its commercial insurers.

RISA Membership
To be eligible for membership you must be resident in Bermuda and directly or indirectly engaged in the business of insolvency or restructuring in Bermuda. You must also be either a current member of a recognized professional body or a person whose work requires you to routinely and actively participate in Bermuda insolvency or restructuring related matters.