Category: Press & Articles

Bermudian Business–On May 5, KRyS Global celebrated the opening of its Bermuda office with a glamorous, Bermudian-themed cocktail party at L’eau Bar, Newstead Belmont Hills. Guests representing the island’s financial and legal sectors enjoyed sumptuous canapes, Rum Swizzles and Dark ‘N’ Stormies against the breathtaking backdrop of Hamilton Harbour. Guests played Crown & Anchor to […]

By Ed Rahming Published in The Bahamas Investor International Business Companies (IBCs) incorporated in The Bahamas are used around the world by business persons and businesses for purposes ranging  from asset holding to complex financial transactions. Their popularity is such that they are frequently encountered in multi-jurisdictional proceedings where a forensic accountant or liquidator seeks […]

Thomson Reuters–Ordinarily, the threshold question of whether a plaintiff has standing—the right to bring a suit—is pretty simple. If you’ve been harmed, you can sue. But the multibillion dollar cases that Irving Picard, the Bernard L. Madoff Investment Securities bankruptcy trustee, has brought against the banks that allegedly abetted Madoff’s Ponzi scheme are anything but […]

The Tribune–There is a “lack of proper reaction” to fraud activity in the Bahamas, a fraud examiner asserted yesterday, adding that with this crime having spiked in the US over the past two years, this nation is likely to have seen similar activity increases. Edmund Rahming, president of the Bahamas’ chapter of the Association of […]

The Tribune–The head of the Bahamas’ Association of Certified Fraud Examiners (ACFE) chapter yesterday said he hopes the introduction of updated rules of evidence for civil litigation in the Bahamas will lead to “more business and activity” for fraud examiners. Edmund Rahming said the organisation, which was formed in January 2011 to serve the interests […]

Guardian–Some of the world’s biggest banks have been buying up the claims of victims defrauded by Bernard Madoff. Among the banks are Royal Bank of Scotland and UBS, which are also being sued in connection with Madoff’s offences. Defrauded investors who need cash are being offered a fraction of what their claim may be worth […]

Law360–A U.S. Bankruptcy Court has held that the tolling provisions in the U.S. Bankruptcy Code allowing for extensions of the time to file actions are automatically available to foreign representatives trying to marshal assets for distribution to creditors in cross-border cases. In In re Fairfield Sentry Limited, the foreign representatives of the liquidation proceedings of […]

Press Release–On 23 May 2011, in In re Fairfield Sentry Ltd., Bankruptcy Judge Lifland of the U.S. Bankruptcy Court for the Southern District of New York ruled that the provisions of Section 108 of the U.S. Bankruptcy Code, which grants a two-year extension of time for a trustee in bankruptcy (or a debtor in possession) […]

By Edmund Rahming Published in Corporate Live Wire Introduction The Caribbean is a region comprising over 7,000 islands and cays and consisting of a land area of almost 93,000 square miles.  The region is made up of 30 jurisdictions including sovereign states, overseas territories and dependencies.  Many of the jurisdictions are former or current British […]

INSOL International is pleased to announce the second graduating class of the Global Insolvency Practice Course. The successful participants are now formally recognised as a Fellow, INSOL International. Alberto Angeloni, DLA Piper, Italy Timothy Barnes, Curtis, Mallet-Prevost, Colt & Mosle LLP Daniel Bryant, PPB Advisory Jan Bunnemann, Hogan Lovells International LLP Scott Cruickshank, Lennox Paton, […]