Category: Press & Articles

KRyS Global is delighted to announce the joining of Mark Longbottom to their Cayman office in the position as Partner. As many of you will be aware, Mark has over 25 years experience and more recently has been in the Cayman Islands for the last 15 years working on several high profile and complex global […]

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 […]

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 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 […]

Originally posted on Cayman Compass Bermuda and Cayman liquidators of an investment company for a family trust, embroiled in the largest US tax-evasion case against an individual taxpayer, have filed for Chapter 15 recognition of the Bermuda liquidation in the United States. The filing attempts to prevent the US Internal Revenue Service from enforcing an […]

Originally posted on Law360.com Law360, London (September 22, 2021, 4:53 PM BST) — A London judge allowed an Arab property tycoon on Wednesday to adjourn his fraud trial after he was hospitalized, saying that refusing his request for a delay would infringe his right to a fair trial. High Court Judge Joanna Smith granted an […]