Update from the Joint Liquidators of Stanford International Bank

Source: FRP Advisory

Update from the Joint Liquidators of Stanford International Bank - in Liquidation (SIB) relating to the recent hearing in the High Court of Antigua & Barbuda

Following the previous update on 21 October 2010, the Joint Liquidators of SIB, Nigel Hamilton-Smith and Peter Wastell, can confirm that the judgment has been handed down by the High Court of Antigua & Barbuda (the Court) in respect of the hearing that took place on 18 October 2010.

The Joint Liquidators have been successful in their application and, in its judgment, the Court has given the Joint Liquidators leave to appeal and extended the time for the lodgement of the appeal.

Whilst the Joint Liquidators have taken immediate steps to lodge an appeal, they are also seeking consent from the Court that there is a general stay on the application for their removal, pending a full appeal hearing. The date of this hearing is yet to be confirmed, but the Joint Liquidators are hopeful it will take place early next year.

Nigel Hamilton-Smith commented: “While the court case continues, we remain committed to recovering assets on behalf of SIB investors. As such, the existing team working on the liquidation remains in place.”

Further information will follow when practicable.

In the meantime, all SIB investors who have not yet registered their claim on the Online Claims Management System should do so via the website at https://stanford.frpadvisory.com/, where their claims continue to be processed