50 people lose jobs after MEPCO closes doors

Published in the Cayman Compass Contractor MEPCO shut down its operations this week and approximately 50 employees at the company lost their jobs, according to the liquidators who took over the business on Tuesday. At the time, MEPCO representatives said the company would keep its four other ongoing contracts with DECCO. Responding by email, MEPCO […]

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Baha Mar Employees Laid Off As Stalemate Continues

Published in Travelpulse, October 23, 2015 By Brian Major Stalled Bahamas mega-resort Baha Mar laid off 2,000 employees effective Oct. 23 after the country’s Supreme Court granted joint provisional liquidators KRyS Global and AlixPartners approval to release the workers Thursday. The layoffs, made due to the resort’s financial insolvency, affect about 1,440 non-active employees and […]

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Bankruptcy Judge Nixes Fund’s Buy Of $230M Madoff Claim

Published in Law360, October 15, 2015 By Kurt Orzeck A New York federal bankruptcy judge has granted a request by the liquidator for an offshore Bernard L. Madoff feeder fund to undo its allegedly imprudent sale of a $230 million claim against the Ponzi schemer’s defunct firm to a hedge fund. U.S. Bankruptcy Judge Stuart […]

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KRyS Global Recovers $150M

Cayman27  October 15, 2015 One local firm takes credit for brokering a settlement in the largest ever Ponzi scheme in history. Some 6 years after Bernie Madoff’s multi billion dollar fraud went belly up, local firm KRyS Global says it’s making progress in recovering a fraction of what was stolen around the world. Click here […]

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KRyS Global secures a landmark decision in US Bankruptcy Court

October 15, 2015 Kenneth Krys and Charlotte Caulfield of KRyS Global, the British Virgin Islands Joint Liquidators of Fairfield Sentry Limited, secured a significant decision yesterday (October 13, 2015) when US Bankruptcy Judge, Stuart M. Bernstein handed down his decision granting their motion to disapprove the sale of their $230 million allowed SIPA claim in […]

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Bahamas Luxury Resort May Open In Early 2016

Published in the Bloomberg Business, October 12, 2015 By Dawn McCarty and John Lippert Baha Mar, the $3.5 billion Bahamas resort at the center of a bitter commercial dispute, will open early next year if Prime Minister Perry Christie has anything to say about it. An agreement could save the resort from liquidation, as a […]

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