Regional news: Antigua and Barbuda

An amendment to Antigua and Barbuda’s Companies Act that imposes an automatic stay on judicial action against companies that enter administration is not unconstitutional, a Caribbean appeal court has ruled.

24 March 2023

The offshore provisional liquidators of an Antiguan holding company controlled by FTX Group founders Sam Bankman-Fried and Gary Wang have placed it in Chapter 11 in Delaware to defend it – and themselves – from a slew of competing claims over US$600 million in shares that it allegedly owns in online trading company Robinhood.

08 February 2023

Liquidators of Stanford International Bank have failed to convince the UK’s highest court they should be allowed to bring a damages claim against HSBC for paying out money to the company’s customers when it was allegedly on notice the payments were part of a fraud.

21 December 2022

A recent amendment to Antigua and Barbuda’s Companies Act that imposes an automatic stay on judicial action against companies that enter administration is unconstitutional, a local court has ruled.

08 April 2022

Liquidators of the Stanford International Bank Ponzi scheme will neither be able to bring a dishonest assistance claim, nor a Quincecare damages claim against HSBC for money it paid out to creditors before the scheme was wound-up, after a double success on appeal for the Hong Kong and Shanghai bank.

15 April 2021

Antiguan liquidators have been prevented from serving a claim on Proskauer Rose in the US, after a Caribbean appeal court said allegations the firm failed to stop the Stanford International Bank Ponzi scheme, could not be tried locally.

03 November 2020