Insolvency Remedies for Offshore Fraud: Closing the Net on the Bad Guys

Carribean Insolvency Symposium

FK partner Scott Berman spoke at the 2019 Carribean Insolvency Symposium, held by the American Bankruptcy Institute and the Recovery and Insolvency Specialists Association between January 7-9 at The Westin Grand Cayman Seven Mile Beach Resort & Spa in the Cayman Islands. Mr. Berman sat on a panel entitled,"Insolvency Remedies for Offshore Fraud: Closing the Net on the Bad Guys."

The panel discussed recent developments in offshore law which have increased the effectiveness of the tools available to trace and recover assets through the offshore insolvency process. The panel was conducted in a formal debate style, using the format of first proposition followed by first opposition, then second proposition followed by second opposition. The debates looked at the illegality defense, clawback claims, the dishonesty test and foreign officeholder recognition, among other issues. Each debate was seven minutes with a four-minute closing, followed by a vote.

Mr. Berman's co-panelists included Collete Wilkins of Walkers Global, Hugh Dickson of Grant Thornton LLP, and Nava Hazan of Squire Patton Boggs.  The panel was moderated by Laura Hatfield of Solomon Harris.