Category: Press

HIGGS & JOHNSON Cross-Border Insolvency In The Cayman Islands: Picard -V- Primeo Article by John Harris and Stephen Robins A recent decision of the Grand Court of the Cayman Islands offers helpful guidance in respect of the remedies open to an office-holder appointed in respect of an insolvent foreign company who wishes to bring insolvency […]

Austin, TX — The Association of Certified Fraud Examiners (ACFE), the world’s largest anti-fraud organization and leading provider of anti-fraud training and education, is pleased to award Andrea Harris, of Guernsey, Channel Islands, the globally preferred Certified Fraud Examiner (CFE) credential. In order to become a CFE, Andrea has met a stringent set of criteria […]

Law360, New York — The special master in the Refco Inc. securities fraud multidistrict litigation said Sunday that Mayer Brown LLP and Grant Thornton LLP should remain on the hook for aiding and abetting claims because there were enough factual questions that could be considered by a jury at trial. The firms are part of the […]

By Diane Davis The U.S. Court of Appeals for the Second Circuit April 16 held that a debtor’s center of main interests (COMI) is determined as of the time of filing of a Chapter 15 bankruptcy petition, and a court may consider the time period between the initiation of the foreign liquidation proceeding and the […]

New York – – The United States Court of Appeals for the Second Circuit today affirmed a decision in favor of Brown Rudnick client Kenneth Krys of KRyS Global, the Liquidator of Fairfield Sentry Limited (in liquidation) (“Fairfield Sentry”), that recognized Fairfield Sentry’s liquidation proceeding in the British Virgin Islands (“BVI”) as a “foreign main proceeding” […]

Guernsey Press–An agreement between two companies to produce books on Ferrari and Glasgow Celtic Football Club ended with one of them being compulsorily wound up. Timothe Le Cornu and Andrea Harris, of Krys Global, were appointed joint liquidators for Kraken Sports & Media Ltd. at a sitting of the Ordinary Division of the Royal Court. […]

Bloomberg – A U.S. judge said he will approve an $80.3 million settlement between Fairfield Greenwich Group, the biggest operator of “feeder funds” that channeled money into Bernard Madoff’s Ponzi scheme, and investors who lost money in the fraud. U.S. District Judge Victor Marrero in Manhattan said today he’ll grant final approval of the deal, […]

www.debtwire.com–A federal court has saved a USD 80m settlement for indirect investors of Bernard Madoff s ponzi scheme, the Wall Street Journal reported. US District Judge Victor Marrero has ruled that Irving Picard, the court-appointed trustee in charge of recovering money for Bernard Madoff s victims, cannot block the settlement that was agreed with founders […]

Stamford Advocate – Bloomberg News – The trustee for Bernard L. Madoff Investment Securities Inc. is near finding out whether he has succeeded in a third attempt at halting lawsuits or settlements where customers threaten to deplete assets of defendants accused of receiving money stolen from Madoff customers. Madoff trustee Irving Picard started a lawsuit in […]

Michelle Jones (www.valuewalk.com)–When Bernard Madoff’s Ponzi scheme broke up, some victims of that scheme sold their claims to earn back their money fast. Kenneth Krys was one of those victims, and he sold his claim for $74 million to Baupost Group. Now he’s trying to get that trade reversed because of how quickly the value […]