December 8,2011
In a public update issued via e-mail to the media this morning (December 8), joint liquidators Marcus Wide and Hugh Dickson of Grant Thornton revealed that they held a webinar for depositors, former employees and trade creditors yesterday, Wednesday, to discuss their recent accomplishments.
The joint liquidators revealed that in the two months since their last webinar, they had work toward a target of US$240.5 million in their liquidation efforts.
This included putting recovery efforts in place to seek US$9 million in Colombia; securing a US$4.5 million for the Eastern Caribbean Amalgamated Bank building in Antigua; tracing an interest in property outside of Antigua with a value of over US$6 million; and perfecting a claim in cooperation with Swiss Trustee to US$230 million in funds.
They revealed that over the past two months they had also uncovered evidence of “red flags” in support of claims against financial institutions; obtained a partial recognition in Canada and permission to sue high value targets, thus preventing the loss of rights; uploaded in excess of 2 Terabyte of data and commenced forensic analysis; engaged independent investigators and experts to assist on asset recovery efforts; and intervened in Swiss criminal proceedings.
These disclosures come weeks after a group of US based Standford fraud victims appealed to the US justice system to keep Grant Thornton and the US-based receiver away from US$330 million in frozen assets that they argued should be disbursed directly to the victims and not used to fund costly liquidation
No comments:
Post a Comment