October 22, 2020

Kalo announces Managing Director appointment in Cayman Islands


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Specialist offshore insolvency and restructuring firm, Kalo, has announced the appointment of Elizabeth (Liz) Mackay as a in the firm’s office. 

Liz’s career in the insolvency and restructuring sector spans a 26 year period and includes more than 10 years’ experience as partner / managing director with an international insolvency firm in the UK. 

She specialises in complex insolvency and restructuring and has extensive experience in conducting both financial and strategic business reviews for a wide range of stakeholders in contentious situations. Liz focuses on corporate restructuring, including formal insolvencies and turnaround. 

Liz is a Licensed Insolvency Practitioner, a Fellow of the Insolvency Practitioners Association, a Fellow of the Association of Business Recovery Professionals, a Fellow of the Association of Chartered Certified Accountants and a Fellow of the Joint Insolvency Examination Board. She also holds a Law degree with Honours and is a recent member of the Institute of Chartered Accountants of Scotland’s Insolvency Technical Committee. 

Gordon MacRae, CEO of Kalo, commented: “We are delighted to have someone of Liz’s calibre join us in Cayman. Not only is she an extremely accomplished and experienced insolvency professional, but she also has vast experience as a visionary, people-focused team leader and business developer. Her approach fits well with Kalo’s ethos and values and we look forward to welcoming her energetic leadership to our senior management team.” 

Liz MacKay added: “The opportunity to join a dynamic and collegiate business, like Kalo, was very attractive and culturally a great fit for me. Kalo has an excellent reputation in terms of the results they achieve for clients and also as a collaborative and engaging workplace. I look forward to working with Gordon and the rest of the Kalo team to continue to build their excellent reputation.” 

Kalo has been involved in several high-profile international insolvency and restructuring matters over the past year. In April, Kalo CEO, Gordon MacRae, was appointed a joint interim receiver over the XiO Fund I LP by order of the High Court of the Hong Kong Second Administrative Region. Since that time recognition of this appointment has been achieved in the Grand Court of the Cayman Islands and in the UK. In July, Kalo helped secure a settlement with Madoff trustee, Irving Picard, which means investors in the Kingate Funds will be able to share in hundreds of millions of dollars of recoveries to compensate them for their losses. Kalo is a specialist insolvency and restructuring practice located in the Cayman Islands and the British Virgin Islands.

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