Madoff Liquidator Seeks Billions From Swiss Banks

Originally posted on finews.asia The specter of Bernie Madoff still hangs over Swiss banks 12 years after his Ponzi scheme collapsed. An American liquidator is looking for massive sums from 15 Swiss banks. Even Swiss exchange operator SIX pops up on the list that Krys Global, a Cayman Islands firm specialized in liquidations and resolving disputes linked to fraud, […]

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Krys Welcomes Neil Dempsey to Cayman Office

KRyS Global is delighted to announce the joining of Neil Dempsey to their Cayman office in the position of Director. As a licensed UK Insolvency Practitioner, Neil has spent over 20 years in the insolvency and restructuring area, working in a wide range of sectors, and gaining broad experience working for a smaller local accountancy […]

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Harris Appointed to Insolvency Rules Committee

Andrea Harris, Director of KRyS Global Guernsey, has been appointed as a member of the Insolvency Rules Committee. Andrea’s appointment is recognition of her technical knowledge of Guernsey Insolvency law and her vast experience in the Guernsey insolvency and restructuring market, including administration, liquidation, regulatory and consulting roles. The appointment has been made by the […]

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Supreme Court Lets Madoff Trustee Seek $3 Billion Transferred Abroad

Originally posted on Bloomberg The U.S. Supreme Court let the liquidator of Bernard Madoff’s investment firm press ahead with efforts to recoup $3 billion from European banks and other overseas investors. The justices, without comment on Monday, turned away an appeal by investors led by HSBC Holdings Plc who said trustee Irving Picard was impermissibly […]

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Krys Global’s Jonathan Ong Quoted as Insolvency Firms Shore Up Staffing Amid Virus Outbreak

Originally posted in the Singapore Business Times Photo caption: As more businesses buckle under strain amid the virus outbreak, some firms in the professional services are boosting their restructuring and insolvency (R&I) practice with more aggressive hiring. ST PHOTO: LIM YAOHUI Singapore AS MORE businesses buckle under strain amid the virus outbreak, some firms in […]

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KRyS Global appointed co-liquidators of commodities group Phoenix

Originally posted on Reuters DUBAI/SINGAPORE (Reuters) – Phoenix Commodities Pvt Ltd, a trader of agricultural products with offices in Dubai and Singapore, is being liquidated after amassing more than $400 million in potential trading losses, according a document prepared by the liquidators seen by Reuters. The business, founded 20 years ago, grew into a company […]

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How A Little Island In The Caribbean Sea Is Standing Up To The Goliath Of Coronavirus

Originally posted on Forbes.com It is 9 am on a Saturday morning at Hurley’s supermarket in Grand Cayman and there is no hint of “business as usual”. Members of the Royal Cayman Islands Police Service are manning the supermarket entrance, while security guards spray shoppers’ hands with antibacterial fluid. Winding dividers direct hundreds of compliant […]

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High Court Seeks US Input on $3 Billion Bid by Madoff Trustee

The U.S. Supreme Court asked the Trump administration for advice on an effort by the liquidator of Bernard Madoff’s firm to recoup $3 billion that was transferred overseas. The justices are considering whether to hear an appeal by investors who say trustee Irving Picard is impermissibly trying to apply U.S. bankruptcy law to foreign transactions. […]

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Fairfield Sentry US Bankruptcy Judge to Retire

The United States Bankruptcy Court for the Southern District of New York announces that Judge Stuart M. Bernstein has declared his intention to retire on September 30, 2020. Judge Bernstein joined the Southern District bench in November 1993 and served as Chief Judge for ten years. During his tenure, he has presided over many large, […]

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OneTRADEx liquidators petition US bankruptcy court

Originally posted on Cayman Compass The liquidators of Cayman discount broker OneTRADEx have petitioned a federal bankruptcy court in the Southern District of New York for the recognition of the liquidation in Cayman as a foreign main proceeding. The liquidators are seeking the protection of the Chapter 15 provisions of the US Bankruptcy Code because […]

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