Author: Marketing

Originally posted on ABI.org In recent months, the bankruptcy judge presiding over the wreckage of the mammoth Bernard Madoff Ponzi scheme has been routinely denying motions to dismiss by investors in so-called offshore feeder funds who were subsequent transferees of fraudulent transfers by Madoff. Principally, investors in feeder funds contended unsuccessfully in bankruptcy court that […]

KRyS Global are pleased to welcome delegates to the INSOL One Day Conference in the British Virgin Islands on 17 November 2022.  This is INSOL’s third seminar in the British Virgin Islands and the Firm is proud to be the Coffee Sponsor for all three events. Details on the seminar can be found at https://events.insol.org/website/7530/. Representatives from […]

Recently, our own Kenneth Krys presented “Caribbean Tax Havens – Update on Legislation Impacting Information Gathering” for the ACFE. In recent years, offshore tax havens have increased legislative requirements for businesses conducting financial services and have been issuing more fines and sanctions against noncompliant organizations. With an emphasis on collecting data on beneficial owners, tax […]

Originally posted on ABI.org The largest fraud in history, the Bernard Madoff Ponzi scheme continues making important law, often in the cross-border sphere. A district judge in New York has given greater definition about the extent to which the safe harbor in Section 546(e) limits the claims that a foreign liquidator can make in a […]

Originally posted on Law360 Joanne Faulkner, Law360, London (October 26, 2022, 4:40 PM BST) — The Court of Appeal refused on Wednesday to adjourn for the fourth time an insolvency trial brought by liquidators of a tycoon’s property portfolio due to the tycoon’s ill health, agreeing that it was unlikely he would ever be fit […]

KRyS Global is delighted to announce the joining of Clive Fortis to their Bermuda office in the position as Director. Clive has spent over 20 years working within a number of medium and small sized firms in the Insolvency and restructuring industry. This exposure has enabled him to develop a wealth of insolvency and advisory […]

The long-awaited amendment to Cayman Islands legislation, to provide a specific legal process for the restructuring of entities, will come into force on 31 August 2022. The headlines of the new process are as follows:● Unless specifically barred from doing so by the Company’s Articles of Association, the application to Court can be made by the Company’s […]

KRyS Global is proud to be a sponsor of the Queen Elizabeth II Botanical Park’s 5K Run/Walk, taking place on July 17, 2022. The run/walk is a fundraiser to gather much-needed funds assist in the continued development of the Queen Elizabeth II Botanic Park’s Children Garden. This is the second year of the walk/run and […]

KRyS Global is pleased to announce that Michael Lam of the Cayman Islands office has been accepted for candidacy of the International Insolvency Institute’s (III) NextGen Leadership Program. The III is a non-profit, limited-membership organisation dedicated to advancing and promoting insolvency as a respected discipline in the international field. Its primary objectives include improving international […]

Originally posted on the Cayman Compass The Grand Court has sided with the provisional liquidator of OneTRADEx in a dispute over spiralling fees and how much of the US$3.8 million in claimed liquidation costs should be paid out of the assets of the broker’s clients. An ad hoc committee of clients and creditors of the […]