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Société Generale Does Not Appeal Swiss Federal Criminal Court Order And Frozen Funds Will Be Released
Further to our update of 5 November confirming that the Swiss Federal Criminal Court ordered the release of all remaining Swiss frozen funds we advise that Société Generale Private Banking (Suisse) SA (Soc Gen) did not appeal the decision within the required time limit. This [...]
Swiss Federal Criminal Court Orders the Release of Swiss Frozen Funds
In a decision dated 16 October 2020 the Swiss Federal Criminal Court (the FCC) upheld the decision of the Swiss Federal Office of Justice (the FoJ) (see link to that 2019 decision) and ordered that all frozen funds remaining in Stanford International Bank Limited’s (In [...]
Eastern Caribbean Court of Appeal Denies SIB’s Appeal to Pursue Proskauer in Antigua
See link to decision of the Eastern Caribbean Court of Appeal denying our appeal to allow us to sue Proskauer in Antigua. The Court of Appeal decided that the claim against Proskauer should not be heard in Antigua. We consider that there are legal and [...]
SIB’s Case Against HSBC to Proceed to Trial
We are pleased to report that we have defeated HSBC’s application for strike out or summary judgment on our claims against them which means that our case against HSBC can now proceed to trial. See attached copy of the written judgment of Justice Nugee of [...]
Update re mediation between SIB and TD Bank
As part of the lead up to the three month trial for this matter, scheduled to begin in January 2021, the Ontario Court required both parties to attend a mediation in an attempt to have the parties try to resolve the matter outside of court. [...]
Privy Council Confirms that the Liquidators of Stanford International Bank Limited (SIB) Cannot Claw Back from Net Winners and Preference Creditors
The Privy Council have decided that the law governing the liquidation of SIB in Antigua and Barbuda does not allow the Liquidators to re-adjust the losses amongst SIB depositors and that the losses must be left as they were when SIB went into liquidation in [...]
Notice to Claim Buyers
To all Claim Buyers, Please see enclosed a copy of the ACKNOWLEDGEMENT OF DEED OF ASSIGNMENT to be used going forward for all claim transfers. We take this opportunity to clarify that this is the only format of acknowledgement which will be accepted going forward [...]
SWISS FROZEN FUNDS DEVELOPMENT – Swiss Federal Office of Justice orders handover of frozen funds to US authorities
Swiss Federal Office of Justice orders handover of frozen funds to US authorities In a decision dated 12 June 2019 the Swiss federal Office of Justice (FOJ) ordered that all funds remaining in two bank accounts of Stanford International Bank Limited’s (In Liquidation) (SIB) held [...]
UPDATE ON TD LITIGATION DEVELOPMENT
UPDATE ON TD LITIGATION DEVELOPMENT The Joint liquidators are pleased to report that the Ontario Superior Court of Justice has directed that our billion damages claim based on a charge of negligence against TD Bank, be set down for a trial starting in January [...]
Notice to Claim Buyers
To all Claim Buyers, Please see enclosed a copy of the New Acknowledgement Form to be used going forward for all claim transfers. We take this opportunity to clarify that this is the only format of acknowledgement which will be accepted going forward and also [...]
