BusinessBusiness RecoveryMadoff liquidators eyeing luxury Antibes pad

Madoff liquidators eyeing luxury Antibes pad

Grant Thornton's team to investigate Madoff's property on the Cote D'Azur, in France

madoff

Madoff

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.

Related Articles

US insolvency actions could have UK reach

Business Recovery US insolvency actions could have UK reach

7y Accountancy Age, Reporters
Madoff sons contest claim from bankruptcy trustee

Business Recovery Madoff sons contest claim from bankruptcy trustee

8y Accountancy Age, Reporters
Basic checks could have uncovered Madoff's scheme

Audit Basic checks could have uncovered Madoff's scheme

8y Mario Christodoulou, Writer
Madoff's lieutenant pleads guilty to fraud charges

Business Recovery Madoff's lieutenant pleads guilty to fraud charges

8y Accountancy Age, Reporters
Madoff auditor could carve out plea bargain

Business Recovery Madoff auditor could carve out plea bargain

8y David Jetuah, Reporter
Overview: Steve Akers - room for manoeuvre

Business Recovery Overview: Steve Akers - room for manoeuvre

9y Gavin Hinks, Writer
GT liquidators in US court battle for Madoff assets

Business Recovery GT liquidators in US court battle for Madoff assets

9y David Jetuah, Reporter
GT targets Madoff yacht after court win

Business Recovery GT targets Madoff yacht after court win

9y David Jetuah, Reporter