Tuesday 6 December 2011

US-Committee in opposition to Grant Thornton

Stanford International Victims find it necessary to make the courts aware of how strongly we support the recognition of Grant Thornton. We must let the court know that we have no trust or faith in Janvey and the "Official Investors Committee." If you have not yet signed the petition that will be filed with the courts and the U.S. government, please do so because there is still time. This committee speaks only for themselves and for U.S. investors, we must make the courts aware of the international investors feelings.

Notice how the committee sign themselves as the "US-Committee" speaks volumes, it appears even they acknowledge they don't represent the interests of International victims.

December 5, 2011
By the US-Committee

The Official Stanford Investors Committee (the "Investors Committee") submits this brief in opposition to the Petition for Recognition of Foreign Main Proceeding Pursuant to Chapter 15 of Bankruptcy Code (the "Petition"). The Petition was originally filed by former liquidators, Nigel Hamilton-Smith and Peter Wastell, and is now championed by Marcus Wide and Hugh Dickson (the "Joint Liquidators").

The Investors Committee respectfully urges the Court to deny the Joint Liquidators any form of recognition under Chapter 15. Any recognition of these Joint Liquidators would be "manifestly contrary to the public policy of the United States". That is so for at least four separate reasons.

First, the appointment of the Joint Liquidators (and their predecessors) was pursued and obtained in violation of this Court's Orders. Granting these Joint Liquidators any form of Chapter 15 recognition, under these circumstances, would undermine fundamental regulatory and jurisdictional policies of the United States.

Second, there are significant conflicts of interest raised by the Joint Liquidators's request for recognition as the "foreign main" proceeding. The Receivership Estate has significant claims against the Antiguan government that will likely be frustrated (or abandoned) if the Joint Liquidators achieve "foreign main" recognition. The Investors Committee believes those conflicts are exacerbated by the multiple representations that have been undertaken in this proceeding by counsel for the Joint Liquidators.

Third, the recognition sought by the Joint Liquidators should be denied because it is very much a "one-way street." The Antiguan courts have already refused to recognize this Court's Receiver, finding both that the Receiver has "no legal entitlement to standing in Antigua and Barbuda" and that this Court's Order appointing the Receiver and taking sole possession of the assets of the various Stanford entities, including SIBL, was "unenforceable."

Fourth, recognition should be denied because it has become painfully obvious that the Antiguan government and the Antiguan judicial system have no real interest in prosecuting the individuals responsible for the Stanford fraud, nor in recovering assets for the benefit of Stanford's investor-victims.

4 comments:

  1. It is incredible the US-Committee wrote that Antiguan has no real interest in prosecuting the individuals responsible for the Stanford fraud...
    Please stop with this joke :-P

    And what about the USA government and the American judicial system???
    Do they really want to prosecute RAS? I dont think so. They are afraid that RAS will tell the true how DOJ, SEC, Florida, and who knows how many politicians were accomplice of this Fraud!!!

    You must be shamed for what you are doing!

    Many thousands of victims are against the Committee and Ralph Janvey because they dont represent the international victims. Racist like Rose Romero (director of the SEC's Fort Worth regional office) who said: "we did not think there were any American investors so it really did not concern us". Bravo!!!

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  2. One more thing:
    GT is independent of Government as the US Committee well know. They are officers of the Court appointed at the request of a creditor.

    It is pathetic all the liars the US-Committee are.

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  3. While I have no reason to doubt the honesty and integrety of GT, anyone who represents participants in the fraud, SirAllen or his country of Antigua should have no standing.

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  4. Antigua, the country which chartered, regulated and hosted SIB has not filed one charge, conducted any inquiry and has even violated its extradition treaty to protect the guilty in Antigua. Until GT proves they are independent of this rogue government, no one should take them any more seriously than Vantis.

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