Category: Press

Ronald Reagan once said “The nine most terrifying words in the English language are, ‘I’m from the government and I’m here to help.” Recent information released by WikiLeaks suggests this may need updating. WikiLeaks has disclosed a substantial collection of materials alleged to detail a portfolio of the US Central Intelligence Agency’s (CIA) hacking and […]

KRyS Global’s Executive Chairman, Kenneth Krys and Senior Manager, Lee Hart, will be heading to the Tenth World Quadrennial Congress of INSOL International, in Sydney in March 2017. The INSOL Congress features a quality international technical programme attracting the best and brightest restructuring professionals from around the world. This year’s will include a dedicated Offshore session meeting on […]

Published in the Cayman Compass Liquidators have begun dismantling MEPCO, the construction company that closed suddenly in October and laid off more than 50 employees. Employees learned of the firm’s financial troubles on Oct. 17, the day they were laid off. MEPCO, established in 2008, worked on mechanical, electrical, fire systems and other building services. […]

In an order issued December 14, 2016, the Eastern Caribbean Supreme Court issued guidance on the following questions: Does the Court have power to permit liquidators appointed by the court pursuant to the Insolvency Act 2003 (the “Act”) to draw monies from a liquidation estate by way of interim payment on account of fees and […]

Originally posted on Bloomberg Bernard Madoff’s victims are set to receive a $342 million payout from the trustee unwinding his epic Ponzi scheme, financed in part by a settlement with the estate of one of the con man’s oldest friends, the late Beverly Hills billionaire Stanley Chais. The distribution, if approved by a judge, would be […]

Originally posted on Reuters By Jonathan Stempel | NEW YORK A federal bankruptcy judge on Tuesday dismissed lawsuits by the trustee liquidating Bernard Madoff’s firm to recoup funds from Koch Industries Inc, the company controlled by billionaire brothers Charles and David Koch, and dozens of other defendants. U.S. Bankruptcy Judge Stuart Bernstein in Manhattan said […]

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 […]

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 […]

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 […]

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 […]