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How Not to Throw Good Money after Bad in Multi-Jurisdictional Litigation

How Not to Throw Good Money after Bad in Multi-Jurisdictional Litigation

Published: 09 May 2022

Originally posted on Offshore Red in February 2020 In this barnstorming tour-de-force, international investigator Ken Krys – the executive chairman and founder of KRyS Global, which has offices in the Cayman Islands, the British Virgin Islands, New York, London, Guernsey, Hong Kong and Singapore – lays out the basic strategies that your offshore bank is likely to require of an investigative firm i...

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Madoff, From a Feeder Fund Perspective, 10 Years Later

Madoff, From a Feeder Fund Perspective, 10 Years Later

Published: 09 May 2022

Originally posted on KNECT365.com, inAsset Recovery Magazine Vol. 2Written by Kenneth Krys in April 2019 I read with interest a weekend interview in the Wall Street Journal on December 1–2, 2018 titled “The Amazing Madoff Clawback”. The interview is with Mr. Irving Picard, the court-appointed trustee of Bernard L. Madoff Investment Securities LLC, who oversees the recovery of assets stolen by Bern...

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The Upside of Sharing – Third-Party Funding for Asset Recovery Claims

The Upside of Sharing – Third-Party Funding for Asset Recovery Claims

Published: 09 May 2022

Originally posted on Offshore Red in June 2019 Corporations that (or individuals who) find themselves victims of fraud, or are embroiled in disputes about their investments, have to consider some thorny issues. How can they get their money – or at least some of their money – back? Whom can they hire to help them get the money back? How much will it cost? How will they pay for those costs? Do they ...

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Guernsey Insolvency Law Reform

Guernsey Insolvency Law Reform

Published: 09 May 2022

Originally published in September 2019 Introduction As a result of a consultation with industry bodies and professionals that has spanned several years, the States of Guernsey have drafted The Companies (Guernsey) Law, 2008 (Insolvency) Amendment Ordinance, 2019 (“the Ordinance”) which introduces a number of proposed additions to the Companies Law. When these reforms were proposed in 2017, the Com...

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When Assets go Offshore, We Put it in the “Too Difficult” Box

When Assets go Offshore, We Put it in the “Too Difficult” Box

Published: 09 May 2022

Originally posted on Corporate LiveWireWritten by Angela Barkhouse in August 2018 If fraud or misconduct is discovered, it can have debilitating effects on a company; on its profits, consumer confidence, increased costs including legal costs, and in severe cases its reputation and the cutting of its workforce. In severe cases of fraud, the company will often be insolvent as a result. In cases wher...

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Howard Levitt: How a Hot Job Market is Giving Companies Cover to Fire Costly Older Workers

Howard Levitt: How a Hot Job Market is Giving Companies Cover to Fire Costly Older Workers

Published: 09 May 2022

Given that Canada’s jobless rate hit a record low in March and employers are now scrambling to find anyone to fill open positions in virtually all sectors of the economy, one might justifiably think that terminations are no longer a major topic of conversation. Surely, employers are desperately hanging on to their existing employees just to keep warm bodies in seats and their businesses chugging a...

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Howard Levitt: Terminating Employee Based on "Unfounded, Malicious, Sexist" Rumours Backfires on Municipality

Howard Levitt: Terminating Employee Based on "Unfounded, Malicious, Sexist" Rumours Backfires on Municipality

Published: 09 May 2022

Workplace rumours run amok can create a toxic environment for employees. For employers who mishandle them — or worse, propagate them — the consequences can be severe, too. Those are some of the lessons to be drawn from the case of Melanie McGraw, who was fired from her role as a part-time administrative assistant and volunteer fire captain with the Dundalk Fire Department in Dundalk, Ont., based...

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Duty of Care and Duty to Mitigate

Duty of Care and Duty to Mitigate

Published: 09 May 2022

This case relates to a gentleman who had a particular condition called lichen planus inside his mouth for at least 15 years. He had been followed up in a special dysplasia clinic and had a number of biopsies over the years, which confirmed severe dysplasia; however, he did not wish to have any surgery carried out. He was seen in 2012, and again, severe dysplasia was noted. He was booked for a rout...

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