Hints and tips:
...With crypto exchange FTX short $8bn and hurtling towards bankruptcy, please take a moment to survey the task that might be awaiting liquidators and law enforcement agencies....
...I revealed that liquidators are searching for $43mn in missing funds, and at least one sitting member of Gibraltar’s parliament was an investor. Read my scoop here....
...The firm was fined £13m last month over serious misconduct in its role advising on the sale of mattress company Silentnight to HIG Capital, a private equity group it had been seeking to secure as a client...
...It was also fined £13m last month for serious misconduct in its advice on the sale of mattress company Silentnight to a private equity fund, which it was nurturing as a client....
...That penalty was dwarfed by the £13.5m fine announced this month for KPMG and one of its former partners for helping private equity group HIG force the insolvency of mattress company Silentnight, in order...
...The designs also incorporated the latest research on germaphobic travellers: wood floors and lacquered furniture rather than fluffy carpets and soft surfaces....
...“If you want cushioning, you can put a mattress there, but if you put a trampoline there I think it’s bullshit,” he said after his race....
...Other investors worry about level of fees that BlackRock and PJT Partners, the appointed liquidators, will end up charging....
...Eve Sleep wake-up call Eve Sleep, the mattress seller, seems not to know how to make its bed and lie in it....
...Casper Sleep (UK) Limited, the company’s local subsidiary incorporated in 2016, has not yet filed accounts with Companies House....
...The Cayman Islands, where Abraaj entities are incorporated, have already received two separate petitions from unsecured creditors, calling to wind up Abraaj’s asset management arm and its holding company...
...Pifss last month filed an initial petition to wind down Cayman-incorporated Abraaj, the region’s largest private equity company, for non-payment of a $100m loan....
...These have included cases brought by liquidators or creditors of Fairfield Sentry, a feeder fund for Bernard Madoff’s operation, as well as businesses connected to convicted Texas fraudster Allen Stanford...
...First, Apax’s UK subsidiary was forcibly wound up in January 2010 and then KPMG was appointed as the liquidator in March....
...Bridge Global had been incorporated just a month earlier, in August 2012. An early alarm about the Cayman dealings came from KPMG, 1MDB’s auditor, according to the auditor-general’s draft report....
...Before listing in New York in 2005, Suntech placed its main manufacturing assets in Wuxi, Jiangsu Province, into a holding company incorporated in the British Virgin Islands....
...BCCI had a complicated international structure, with its main banking business incorporated in Luxembourg but its chief operations in London and interests in the Cayman Islands....
...SIB was incorporated in Antigua and Barbuda when it was founded in 1990, and at all times its registered office was based there....
...Now, however, the liquidator to the parent company, Lehman Brothers Holdings Incorporated, is trying to change this mentality among the affiliates....
...Now that you have the mattress, it’s time to find the right place to put it....
...Though the funds operated mostly in New York, they were incorporated in the Cayman Islands and that is where they have filed for bankruptcy....
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