Cayman Islands authorities to wind up Beechwood Re following fraud scandal
By Matt Sheehan From Reinsurance News The Grand Court of the Cayman Islands has approved a petition for the winding up of Beechwood Re, a locally domiciled reinsurer that is being sued for fraud in the U.S and has ties…
New York Bankruptcy Court permits discovery requests In Chapter 15 Case despite potentially conflicting Cayman Islands law
From JD SUPRA On April 17, 2018, the U.S. Bankruptcy Court for the Southern District of New York (the “Court”) issued a decision requiring CohnReznick LLP (“CohnReznick”) to produce documents requested by the foreign representatives (the “Foreign Representatives”) in the chapter…
Several New York hedge funders have been arrested and charged with $1 billion fraud
By Nate Raymond, Reuters From Business Insider NEW YORK — The founder of the New York-based hedge fund Platinum Partners was arrested Monday as prosecutors unveiled an indictment charging him and six others with participating in an approximately $1 billion…
Cayman Islands: Platinum Partners Fund obtains Litigation Shield
By JONATHAN RANDLES From Wall Street Journal Judge grants Platinum fund recognition under chapter 15, the section of U.S. bankruptcy law dealing with international insolvencies Platinum Partners’ flagship hedge fund on Monday secured a legal shield that puts on-hold litigation…
Murray Huberfeld, Co-Founder of Platinum Partners files for Bankruptcy amid NYPD probe
By Anat Ghelber From Jewish Voice In June of this year, hedge fund Platinum Partners was embroiled in a bribery investigation that has resulted in founder Murray Huberfeld been arrested. He was charged with paying $60,000 in bribes to the president…
Why did a Jewish schools charity loan $2.3M to failing hedge fund?
By Josh Nathan-Kazis From Forward A Jewish education charity made a $2.3 million loan to a failing hedge fund this May, two months before the hedge fund’s collapse. Torah Umesorah, also known as the National Society for Hebrew Day Schools,…
