In certain mergers, shareholders of Bermudian corporations will have appraisal rights. For much more on Bermuda appraisal, see “Bermuda Minority Shareholder Protection and Appraisal Rights” from BeesMont, by Stephanie Sanderson.
Notable is that in a Section 106 merger or amalgamation (most similar to the standard mergers we confront in Delaware), there are appraisal rights for Bermudian corporations; and, different than Delaware, there is no appeal process from the courts’ appraisal decision. Bermuda is a major destination for insurance and reinsurance companies, including those with operations in the United States.
** Lowenstein Sandler LLP thanks Stephanie Sanderson, a partner of BeesMont, for directing us to her work on Bermuda appraisal. Lowenstein Sandler LLP does not practice in Bermuda.