Category: Press

Originally posted on Reuters DUBAI/SINGAPORE (Reuters) – Phoenix Commodities Pvt Ltd, a trader of agricultural products with offices in Dubai and Singapore, is being liquidated after amassing more than $400 million in potential trading losses, according a document prepared by the liquidators seen by Reuters. The business, founded 20 years ago, grew into a company […]

The U.S. Supreme Court asked the Trump administration for advice on an effort by the liquidator of Bernard Madoff’s firm to recoup $3 billion that was transferred overseas. The justices are considering whether to hear an appeal by investors who say trustee Irving Picard is impermissibly trying to apply U.S. bankruptcy law to foreign transactions. […]

Originally posted on Cayman Compass The liquidators of Cayman discount broker OneTRADEx have petitioned a federal bankruptcy court in the Southern District of New York for the recognition of the liquidation in Cayman as a foreign main proceeding. The liquidators are seeking the protection of the Chapter 15 provisions of the US Bankruptcy Code because […]

Kenneth Krys, Executive Chairman and Founder of KRyS Global, has been appointed Co-Chair of the International Insolvency Institute’s USA/Canada and Caribbean Regional Committee. The Institute is a non-profit, limited-membership organization dedicated to advancing and promoting insolvency as a respected discipline in the international field. Its primary objectives include improving international co-operation in the insolvency area and achieving greater […]

In an effort to provide a potent 1-2 punch for clients, KRyS Global USA has added the services of Peter Lennon as a director level in New York. Peter, who joins James Leda, is a seasoned professional whose career has been devoted to financial regulation, litigation and investigations involving complex financial issues. In addition to being a […]

KRyS Global is pleased to announce that James Leda will be replacing Grant Lyon of our US office. Jim is a senior restructuring professional with over 20 years’ experience in the areas of reorganization and addressed distressed situations, with a specific expertise in financial services matters. His former employers include PPM America, Inc. (a subsidiary of Prudential PLC), […]

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 […]

KRyS Global, an international fraud investigation and dispute resolution firm with offices in eight locations, has retained Jacqui Sanaghan to manage its Forensic Technology Services team. Ms Sanaghan specialises in digital forensics and e-disclosure and will be responsible for driving new client engagements across the offshore.  Kevin Haywood Crouch, Global Head of Forensics and Consulting […]

Published in www.reorg-research.com Judge Bernstein Reserves Decision on Assignment of Management Claims Under Settlement Agreement Between Fairfield Sentry, Madoff Trustee Notice of Hearing Judge Stuart Bernstein heard argument yesterday regarding the proposed assignment of the Fairfield debtors’ claims against former investment managers – individuals and entities that compose the Fairfield Greenwich group – to Irving […]

Published in The Royal Gazette, Bermuda Cyber-risk insurance has the potential to create a new market and revenue stream for the insurance and reinsurance industry.  And it may eventually become a stand-alone single peril class, something many underwriters would like to see happen. Those were a few of the thoughts expressed by a panel of […]