Category: Press & Articles

Clawback claims in excess of $6 billion of overpaid redemptions have been brought by the Fairfield Sentry liquidators in about 300 United States Bankruptcy Court claims pending before Judge Bernstein in the Southern District of New York.  A small minority of the defendants to those actions brought applications in the BVI Commercial Court seeking directions […]

In a recent application for an increase in liquidators’ fees in accordance with Practice Direction 3 of 2015 (which permits the liquidator to appear in person before the Court without the involvement of advocates), the Royal Court of Guernsey issued guidance to insolvency practitioners regarding the scope and form of the information with which the […]

Originally posted on the Caymanian Compass When Kyrie Caulfield drives on Grand Cayman during rainy days, his pulse quickens, his stomach ties into knots, and his knuckles whiten from gripping the steering wheel too hard. That reaction may seem odd coming from a longtime dive instructor. But after nearly losing his family and his own […]

An order issued by the U.S. Supreme Court this morning denied Farnum Place, LLC’s petition for certiorari. Farnum Place had sought review of whether chapter 15 of the Bankruptcy Code requires a U.S. bankruptcy court to independently analyze a foreign debtor’s sale of a U.S. asset, after the U.S. Bankruptcy Court disapproved Fairfield Sentry’s sale […]

Originally from Law360.com By Ryan Boysen Law360, New York (September 14, 2017, 5:35 PM EDT) — A hedge fund is asking the U.S. Supreme Court to review a Second Circuit decision that let a U.S. bankruptcy court void the sale of a $230 million claim despite the earlier approval of a foreign bankruptcy court, saying […]

In an effort to provide a potent 1-2 punch for clients, KRyS Global USA has added the services of Peter Lennon as a director level in New York. Peter, who joins James Leda, is a seasoned professional whose career has been devoted to financial regulation, litigation and investigations involving complex financial issues. In addition to being a […]

KRyS Global is pleased to announce that James Leda will be replacing Grant Lyon of our US office. Jim is a senior restructuring professional with over 20 years’ experience in the areas of reorganization and addressed distressed situations, with a specific expertise in financial services matters. His former employers include PPM America, Inc. (a subsidiary of Prudential PLC), […]

Originally posted on Law360 By Ryan Boysen Law360, New York (May 22, 2017, 4:24 PM EDT) — A New York bankruptcy court was right to scrap the sale of a $230 million claim by the liquidator for an offshore Bernard L. Madoff feeder fund to a hedge fund, the Second Circuit affirmed on Monday, saying […]

Originally posted on Global Restructuring Review. Co-authored by Andrea Harris of KRyS Global and David Jones of Carey Olsen. Overview The laws that govern liquidation and restructuring regimes in Guernsey are encompassed in the Companies (Guernsey) Law 2008, as amended (the Law). Opinions on Reforming Guernsey’s insolvency regime were sought via a public consultation process […]

Originally posted on Global Restructuring Review Photo taken from iStock.com/bodnarchuk A British Virgin Islands court has sanctioned a liquidator’s application for a blended fee remuneration, including a percentage of revenue from assets sold, after she returned an ailing gold mining company to solvency in “a remarkable success story”. Sitting in the Commercial Division of the […]