Category: Press

BVI Beacon: Due to a recent ruling from the Virgin Islands’ highest court of appeal, KRyS Global, the liquidator of a now-defunct investment fund that placed its money with Bernie Madoff, may soon recover nearly $72 million to be redistributed to fraud victims. The Dec. 11, 2008 discovery that Mr. Madoff’s New York-based brokerage firm […]

Road Town, Tortola, British Virgin Islands The Liquidators of Fairfield Sentry Limited yesterday obtained an important victory before the Judicial Council of the Privy Council (the court of final appeal for the UK overseas territories) which should bring them closer to procuring $72 million for the benefit of stakeholders. The matter under appeal related to […]

Law360, New York (November 24, 2014, 6:09 PM ET) — The liquidator for an offshore Bernard L. Madoff feeder fund on Friday urged the Second Circuit not to revisit its decision allowing a challenge to the sale of a $230 million claim against the Ponzi schemer’s defunct firm, saying a lower court has already rejected […]

Law360, New York (November 04, 2014, 5:06 PM ET) By Pete Brush — The Second Circuit on Monday ordered the liquidator of an offshore Madoff feeder fund, who is seeking to undo the imprudent sale of a $230 million claim against the con man’s defunct securities firm, to show why other arguments can’t be considered to […]

Ultura Unit Files Chapter 11 to Sell Membrane Business By Bill Rochelle and Sherri Toub, Bloomberg.com Oct 22, 2014 9:01 AM PT Ultura (Oceanside) Inc., a developer of water-treatment products, filed a Chapter 11 petition on Oct. 20 in Delaware to sell its membrane business to pre-bankruptcy lender UAC Finance Inc. in exchange for about […]

  Law360, New York (October 17, 2014, 12:27 PM ET) — On Sept. 26, 2014, the U.S. Court of Appeals for the Second Circuit, in Krys v. Farnum Place LLC (In re Fairfield Sentry Ltd.), No. 13-3000, (2d Cir. Sept. 26, 2014), vacated orders of the District Court for the Southern District of New York […]

Law360, New York (October 15, 2014, 10:20 AM ET) — In a recent Madoff-related decision,[1] the Second Circuit ruled that a bankruptcy court in a Chapter 15 case must conduct an independent review of an asset sale by a foreign liquidator, previously approved by a foreign court. In doing so, the Second Circuit also ruled […]

The following press release from Martin Kenny & Co BVI cites Penny Cassell, Director at KRyS Global as an Expert Witness in the case. FOR IMMEDIATE RELEASE 8 October 2014 BVI Court Releases a $38 Million Judgment in Unfair Prejudice Dispute Between Kyiv-Based Shareholders Martin Kenney & Co (BVI), led by Justin Fenwick QC (London) […]

Jacqueline Palank, WSJ Bankruptcy Blog September 26, 2014 (c) 2014 Dow Jones & Company, Inc. A federal appeals court on Friday ruled that a bankruptcy judge must review a bid to sell a $230 million claim in the Bernard Madoff liquidation, offering new hope to the seller’s bid to break off the deal. The U.S. […]

Jan Wolfe, The Litigation Daily September 27, 2014 As with any great financial upheaval, the collapse of Bernard L. Madoff Investment Securities brought opportunities for fees and profit. And as with Madoff’s fraud, some suffered plain old bad luck. Some of that bad luck fell on KRyS Global, the professional services firm tasked with unwinding […]