Category: Press

The Chamber has now released the 2011 Economic Crime Survey report with the assistance of KRyS Global. This is the second report of this kind released by the Chamber. The aim of this report is to provide a comprehensive assessment of the nature and the impact of economic crime on businesses in the Cayman Islands […]

By Joseph Checkler (Dow Jones Daily Bankruptcy Review)–The trustee winding down the feeder funds for Bernard Madoff’s Ponzi scheme is suing a group of banks and investment firms for more than $65 million, saying those firms invested in the funds and received payments for profits that were actually fake. Kenneth Krys, the British Virgin Islands […]

By John Mulligan (Irish Independent)–The liquidator of fraudster Bernie Madoff’s feeder funds has launched a legal case in New York against Bank of Ireland Nominees seeking the repayment of at least $3m (€2.2m). British Virgin Islands-based liquidator Kenneth Krys alleges that Bank of Ireland Nominees received almost $3m from one of the so-called Madoff feeder […]

By: Michael Klein (Caymanian Compass)–Recovery and insolvency practitioners in the Cayman Islands have launched the Cayman Chapter of INSOL, the International Association of Restructuring, Insolvency & Bankruptcy Professionals. Chairman Michael Pearson presented the objectives of the Recovery and Insolvency Specialists (Cayman) Association Ltd during a launch event at the Westin Casurina on Wednesday, 28 March. […]

Litigation involving investment funds has developed exponentially across the globe since 2008. Whether as a result of the fraud perpetrated by Madoff, the failings of fund directors (such as Weavering) or the overall economic meltdown, investors have found themselves holding shares that may variously be gated, suspended or sometimes worthless. Whilst much of this litigation […]

www.tribune242.com–A successful winding-up of Owen Bethel’s Montaque Capital Partners is dependent on recovering $5.35 million owed by the insolvent Bahamian broker/dealer’s clients and affiliates, plus the fate of $4.3 million being claimed by a Canadian provider. Ed Rahming, the KRyS Global accountant and partner, in March 5 affidavit filed with the Supreme Court, disclosed that […]

Press Release–Charles and Linda Hickox (“Hickox”) , who currently hold first mortgage debt totaling in excess of $70 million which is collateralized by a first charge against Cap Juluca Resort, have appointed Kenneth Krys of KRyS Global as Receiver. Hickox also recently commenced an auction process being conducted by DK Realty Partners as a means […]

By Jason Smith (BVI Beacon)–An appeals court may soon consider whether shareholders who withdrew money from a Virgin Islands-based hedge fund that had invested money with Bernard Madoff ’s securities firm before his Ponzi scheme was discovered should be allowed to keep the money. The Eastern Caribbean Supreme Court of Appeal met Tuesday to consider […]

Business BVI–KRyS Global, a firm dedicated to corporate recovery, insolvency, forensic accounting and business advisory services, recently welcomed John Greenwood as Managing Director and Andrew Seeckts as Manager in its BVI office. Mr. Greenwood, who is replacing Ms. Joanna Lau, brings over 25 years of experience in the areas of insolvency and restructuring, banking and […]

Press Release–Kenneth M. Krys, Founder and CEO of KRyS Global, is among a select group of professionals to pass the Certified Specialist in Asset Recovery certification examination. Mr. Krys has now earned the privilege of using the prestigious designation CSAR, or Certified Specialist in Asset Recovery. The CSAR credential is earned by individuals who pass […]