Cayman Islands in the Foreign Press
Wednesday, October 22, 2008 : PermalinkCaymen Net News – Insolvency lawyers in Scotland should take an interest in a bankruptcy case in the Cayman Islands involving two Bear Stearns hedge funds and an American judge with the wonderful name of Burton Lifland.
The issue is this: where did a business that has gone bust have its main commercial interests?
The two funds were involved in what is now a familiar story amid the carnage on the world financial markets. They bet heavily on sub-prime mortgages and, as defaults increased, creditors demanded their money back leaving the funds with no cash.
Tags: barclays-bank-plc, carnage, charlie-mccreevy, eliot-spitzer, jay-westbrook, la-caixa, last-november, lawsuits, liquidation, loan-originators, mps, severe-losses, third-party
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