Category: Articles & Publications

By Kenneth Krys Published in Cayman Financial Review On 10 December 2008 Bernard Madoff’s sons told authorities their father had just confessed to them that the asset management arm of his firm was a massive Ponzi scheme, and quoted him as saying it was “one big lie”. Five days later Irving Picard was appointed the […]

By Kenneth Krys Published in Corporate International, August 2010 The number of insolvencies occurring in the Caribbean has increased in the past two years, but not all cases are a result of the economic downturn. Investors and stakeholders have increased their due diligence and monitoring and this has meant accountability within companies has increased and […]

By Chester Robards, The Tribune Edmund Rahming comments Commercial fraud is on the rise in the region and in the Bahamas as a direct result of the global recession, the managing director of forensic accounting, corporate recovery and insolvency firm, Krys Rahming and Associates (Bahamas), said yesterday, as it prepares to host a seminar on […]

Mena FM, June 2010 Tahir Jawed of Maples and Calder, Dubai; Niaz Khan, of DMS Management and John Skelton of Krys & Associates discuss what the Cayman Islands can offer the Mena region. Download full article as a PDF.

By Kenneth Krys Insol World, Second Quarter 2010 Professional indemnity insurance (“PII”) for insolvency practitioners is liability insurance that provides cover in the event that a third party claims to have suffered a loss as a result of professional negligence by the insolvency on the part of the practitioner. PII cover is generally considered good […]

Reviewed by Mathew Clingerman Krys & Associates Cayman Ltd. Fellow, INSOL International Cayman Islands Insol World, Second Quarter 2010 Chair: John Verrill, Dundas & Wilson LLP Jeff Friedman, Kattern Muchin Rosenman LLP Paul Winer, Weksmans Incorporating Jan S. de Villiers Leon Zwier, Arnold Bloch Leibler Economic recessions not only increase the general level of corporate […]

Tim Le Cornu and Mathew Clingerman discuss Published in Corporate Rescue and Insolvency, April 2010 Historically, insolvency procedures in the Cayman Islands have been governed through the application of the UK’s Insolvency Rules 1986 insofar as such rules were not inconsistent with Cayman Islands’ law. While this practice worked well for  many years, the UK’s […]

Margot MacInnis reviews INSOL 2009 Technical Session, ‘Do reorganizations really return more value than liquidations?’ INSOL World, Third Quarter 2009 Chair: John Jefferson, The Hilco Organization, Canada; Panelists: Mark Conzelman, Canadian Imperial Bank of Commerce, Canada; Philip Hertz, Clifford Chance LLP, UK; Gwyn Morgan, Westpac Banking Corporation, Australia. John Jefferson, session moderator, identified ‘value’ as […]

By Tim Le Cornu and Mathew Clingerman Cayman Financial Review, July 2009 This is the second article in a two-part series dedicated to discussing the recent reforms impacting the Cayman Islands’ insolvency regime as a result of the Companies Amendment Law 2007, the Companies Winding Up Rules 2008, the Insolvency Practitioners Regulations 2008 and the […]

By Tim Le Cornu and Mathew Clingerman ABI Journal , June 2009 Historically, insolvency procedures in the Cayman Islands have been governed through the application of the U.K.’s Insolvency Rules 1986, insofar as such rules were not inconsistent with Cayman Islands’ law. While this practice worked well for many years, the U.K.’s Insolvency Rules 1986 […]