Category: Press

Bermuda Wired–Troncossi Public Relations (Troncossi), Bermuda’s most established public relations consultancy, today announces it has been selected by KRyS Global to provide public relations support to the firm’s Bermuda office. KRyS Global is a professional services firm that provides solutions to complex cross-border issues in the areas of corporate recovery, insolvency, forensic accounting and business […]

Bloomberg–Liquidators for Fairfield Sentry Ltd. and affiliated funds, which had been the largest feeder funds for Bernard L. Madoff Investment Securities Inc., may not be able to sue foreign customers in the U.S. Bankruptcy Court in New York as the result of a Sept. 19 ruling by Chief U.S. District Judge Loretta A. Preska in […]

Sabrina Gordon (Jamaica Gleaner)–A year after joint liquidators of Dyoll Insurance Company Limited brought a suit against Aon Benfield Canada, formerly Aon Re Canada, in Jamaica’s Supreme Court claiming US$19.86 million, on allegations of negligence in its dealings as reinsurance broker for the failed general insurance company, the parties have reached an out-of-court settlement. Aon […]

Press Release–Kenneth M Krys and Joanna Lau of KRyS Global, the Joint Liquidators of Fairfield Sentry Ltd., Fairfield Sigma Ltd. and Fairfield Lambda Ltd., announce another important decision in the Fairfield Funds’ liquidation proceedings. In a decision dated September 15, 2011 and entered on the docket on September 16, 2011, U.S. District Judge George B. […]

Press Release–On 2 May 2011 the Tel Aviv Magistrate’s Court (the “Court”) in Israel rendered its decision granting the British Virgin Islands (“BVI”) based Liquidators of Eldon Ventures Limited (the “Company”) the right to examine the company and shareholder information held by the Company’s former legal advisor. The Company’s former legal advisor claimed that as […]

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 […]

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 […]