Sun, Oct 22, 2017
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

FTI Consulting launches specialist director support services in Cayman

Friday, July 28, 2017

Bailey McCann, Opalesque New York:

FTI Consulting's restructuring group is expanding its services in the Cayman Islands following approval of a Companies Management Licence by the Cayman Islands Monetary Authority (CIMA). FTI will be able to provide independent board directors that can manage fund liquidations and turnarounds.

"Historically, if investors have wanted out of a Cayman fund they might push for a professional liquidator to come in following a judgment," explains Andrew Morrison, a Senior Managing Director in the Corporate Finance & Restructuring segment at FTI Consulting in an interview with Opalesque. "Now, we can offer investors the option of using a specialist director and managing the situation out of court."

The restructuring group at FTI is led by Morrison and David Griffin, Leader of the Corporate Finance & Restructuring. Morrison notes that allowing the appointment of directors with restructuring skills is a relatively new option from CIMA and one that can mean that investors are able to recoup their assets in a more expedient way. Going to court in order to force changes at a fund can take years and a significant amount of money. A specialist director can step in to get the ball rolling almost immediately.

"We thought now was a good time to go to market with this, because investors are becoming more aware of their options when it comes to dealing with funds and fund managers," adds Griffin.

The support services launch comes in......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Regulatory - David Stockman: Trump tax reform overhaul is a pipe dream, stocks are heading for 40-70% plunge, Carried interest tax: How much does it matter?, Odey sees 'terrifying' mix in MiFID, tapering, asset values, Hedge funds come together to share cost of MiFID and research, SEC turns up the heat on U.S. investment advisers, India's Sebi asks hedge funds to report investments in commodity derivatives[more]

    David Stockman: Trump tax reform overhaul is a pipe dream, stocks are heading for 40-70% plunge From David Stockman is warning about the Trump administration's tax overhaul plan, Federal Reserve policy, saying they could play into a severe stock market sell-off. Stockman, the R

  2. North America - Puerto Rico rejects loan offers, accusing hedge funds of trying to profit off hurricanes[more]

    From Puerto Rico has rejected a bondholder group's offer to issue the territory additional debt as a response to the devastation of Hurricane Maria. Officials with Puerto Rico's Fiscal Agency and Financial Advisory Authority said the offer was "not viable" and would harm the islan

  3. Investing - WPP targeted by short-selling American hedge fund, Sun co-founder sells secretive hedge fund on big chip trade[more]

    WPP targeted by short-selling American hedge fund From An American hedge fund has mounted a bet against WPP, the world's largest advertising group, with a trade worth almost £90m. Lone Pine Capital has built a short position worth 0.51 per cent of the FTSE 100 company,

  4. Hedge funds up as industry adjusts to rising rates[more]

    Komfie Manalo, Opalesque Asia: Hedge funds have reshuffled their portfolio after nearly four weeks of rising rates as the Lyxor Hedge Fund Index was up +0.2% from 19 September to 26 (+1.1% YTD), fuelled by strong results of global macro funds, Lyxor Ass

  5. Manager Profile - How the world's hedge fund king used 'idea meritocracy' to become a billionaire[more]

    From In 1982, Ray Dalio made what he calls the biggest mistake of his life. He made a bet that there would be an economic collapse stemming from a debt crisis. And he was wrong. He lost money. He lost his client's money. He had to let people go from his firm and borrow money from his dad