On 30 July 2010 the Court of Appeal in England and Wales handed down their decision in Rubin v Eurofinance SA and Others  WLR (D) 282. The decision may have significant consequences for investment funds (or any other corporate entity) facing insolvency proceedings in a foreign jurisdiction.
Music legend Billy Joel never could have imagined that his song “New York state of mind” would be used in connection with an article discussing developments in case law interpreting the “Center of Main Interests” in Chapter 15 proceedings for hedge funds.
Second installmentThis is the second article in a two-part series dedicated to discussing the recent reforms impacting the Cayman Islands’ insolvency regime as a...
On 10 December 2008 Bernard Madoff’s sons told authorities their father had just confessed to them that the asset management arm of his firm was a massive Ponzi scheme, and quoted him as saying it was “one big lie”. Five days later Irving Picard was appointed the trustee over Bernard L. Madoff Investment Securities, LLC.