Topic: Ponzi scheme

Crypto platform Celsius is facing a new adversary claim in Manhattan from holders of around US$22.5 million in so-called “custody wallets”, who say they retain title to their digital assets unlike other depositors and should be exempted from its pause on withdrawals – just as the debtor asked its Chapter 11 judge for permission to return US$50 million in such accounts.

05 September 2022

Business advisory firm Quantuma has continued its international expansion with the launch of a new office in the British Virgin Islands and the hire of former Kalo senior manager Toni Shukla.

06 April 2022

A New York court has thrown out avoidance claims brought by the BVI liquidators of three Madoff funds against their shareholders, but allowed them to continue with constructive trust claims under BVI common law.

17 December 2020

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

Saudi conglomerates Ahmad Hamad Al-Gosaibi & Brothers and Saad Group have settled billions of dollars’ worth of fraud claims against each other, following a decade-long dispute in the Cayman Islands.

13 October 2020

In the first written judgment of its kind, a British Virgin Islands court has approved third party funding agreements for litigation and other liquidation fees and expenses in relation to a multinational Ponzi scheme.

01 October 2020

US firm Pillsbury Winthrop Shaw Pittman has bolstered its insolvency and restructuring practice, hiring two veteran partners in New York.

06 August 2020

Gordon Brothers and EY have hired in Australia, Kirkland & Ellis and Thornton Grout Finnigan have recruited in Hong Kong and Toronto, and Quantuma and Freeths continue to expand in the UK.

20 July 2020