|
|
18 Jun 2009
The Grant Thornton team charged with clawing back cash by locating, seizing and liquidating the assets of the Madoff family for UK creditors have targeted a luxury apartment in Antibes on the Cote D’Azur, France.
A US lawyer acting for Grant Thornton told Accountancy Age that the liquidator was investigating the property in the French resort. ‘There is a luxury flat in Antibes and we are trying to establish whether it was bought through the UK company,’ said Eric Lewis of Baach Robinson & Lewis.
Steve Akers, Mark Byers and Andrew Hosking of GT in the UK have already seized a vintage Aston Martin and The Bull, a 27-metre yacht, once moored in Antibes, which Lewis said was worth in the region of E5m (£4.2m). However, the liquidator of Bernard Madoff’s US operation also felt it had a right to assets bought through the UK operation, which caused some tension between the two sides.
The two camps hammered out an agreement last week in the US bankruptcy courts which will now see them work together with enforcement agencies including the SFO, the Financial Services Authority, US Department of Justice and the Securities and Exchange Commission.
You may also like
Search thousands of financial jobs:
Search thousands of financial jobs:
Careers
Search for jobs
Click to search our database of all the latest accountancy roles
Create a profile
Click to set up your profile and let the best recruiters find you
Jobs by email
Sign up to receive regular updates with the latest roles suitable for you
Briefings
By looking at the reasons supplier statements became unfashionable, and the reasons why it is different today, this paper delves into the many benefits that can be obtained by automating the process.
Having a real and true view of your organisation’s current financial position, and having the right systems and processes in place, will ensure that you can make strong choices and are ready to capitalise on opportunities
AccountancyAgeInsight is a frequently updated resource centre for finance professionals, offering a free and easy-to-use digital library of briefings, white papers and other information resources. 
Visitor comments Add your comment