Symphony Management Ltd.
Butterfield Bank Building
65 Front Street
Hamilton HM 12, Bermuda
Telephone Number: (441) 295-2447
Facsimile Number: (441) 292-0511
A Segregated Accounts Company ("SAC") is able to establish legally segregated accounts to segregate the assets and liabilities attributable to a specific segregated account of the SAC from other assets and liabilities attributable to other segregated accounts of the SAC.
Assets of a specific segregated account are held exclusively for the benefit of the segregated account owners or any counterparty to a transaction linked to the segregated account via contractual agreement.
The assets of a segregated account are insulated from any claims against other segregated accounts and the general creditors of the company. The Segregated Accounts Companies Act 2000 enables a statutory segregation of accounts within a single company.
Each segregated account is governed by its own governing instrument. The governing instrument will contain among other things, the methods by which the account will be managed and the rules for payment of distributions. The SAC is obligated to keep proper records for each account.