GRANT THORNTON liquidators have been called to Stanford International Bank.
Marcus Wide and Hugh Dickson, of Grant Thornton’s specialist services in the Cayman Islands, were appointed joint liquidators.
The appointment follows an action by a number of creditors of Stanford International Bank to replace the original joint liquidators of the failed bank, Nigel Hamilton-Smith and Peter Wastell formerly of Vantis, then FRP Advisory.
The liquidators will be tasked with recovering funds for the estimated 27,000 victims of the alleged Allen Stanford’s (pictured) multi billion dollar Ponzi scheme
Wide and Dickson have more than 60 years combined experience of insolvency across a large number of jurisdictions, and Wide in particular has liquidated more than 30 failed banks in the Caribbean.
“With more than $7 billion in alleged losses suffered by approximately 27,000 depositors worldwide, a robust liquidation of the bank is vital,” said Wide.
“Hugh Dickson and I look forward to serving the creditors of the Stanford estate, and dealing with the outstanding issues over control of assets in the UK, Switzerland, Canada and elsewhere.”
Stanford denies criminal fraud charges, and is scheduled for trial in September.
HMRC breaches client confidentiality; and partner profits fall at EY. These stories and more discussed in Friday Afternoon Live
Two new audit partners have been appointed at the firm BDO in its audit practice following continued growth and investment
Changes to the tax system is urged to support the growth of entrepreneurs, found a report from the Grant Thornton UK, the Institute of Directors, and the Prelude Group
Six new partners have been revealed by top ten firm Mazars