Category: Press

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 […]

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 […]

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 […]