The Bermuda Monetary Authority published a notice that the Supreme Court of Bermuda has ordered Yew Tree Investments Limited to be wound up after the authority petitioned the court under the Investment Funds Act 2006 and the Companies Act 1981. Under the court order dated 5 June 2026, Charles Thresh and Michael Morrison of Teneo Bermuda Limited were appointed joint provisional liquidators of the company. The action followed what the authority described as several breaches of the Investment Funds Act and the Investment Fund Rules 2019. These included repeated failures to prepare audited financial statements, carry out net asset valuations, notify the authority or obtain a waiver for suspended NAV calculation, appoint an administrator, and file required compliance statements. The authority also concluded that, as a result of those breaches, the fund had failed to conduct business in a prudent manner. It viewed the breaches as serious because they persisted over a long period and were not remediated, leading it to conclude that the company and its operators could not restore or maintain compliance.
Bermuda Monetary Authority2026-06-30
Bermuda Monetary Authority secures court-ordered winding up of Yew Tree Investments over repeated investment fund breaches
The Bermuda Monetary Authority said the Supreme Court of Bermuda has ordered Yew Tree Investments Limited to be wound up, following the authority’s petition under the Investment Funds Act 2006 and the Companies Act 1981. The move followed repeated failures including missing audited financial statements, not conducting NAV calculations, not appointing an administrator and not filing required compliance statements. Two Teneo Bermuda Limited representatives were appointed joint provisional liquidators.