Grant Thornton to Issue Claims Cheques Directly

For future reference all payments will be issued by cheque direct from Grant Thornton and sent to the registered address of the claim victim.

Marcus has been made aware of all the problems that victims have had in receiving payments from ItalBank and in light of all the complaints has decided to sever Grant Thornton’s original arrangement to have payments sent through ItalBank.

The initial concept was because of the problems experienced mainly by the Latin American victims who were not receiving payments coming from Gilardi on behalf of the payment schedules from Ralf Janvey.

It was thought that working with ItalBank (a Latin American Based Bank) and allowing the Latin American victims to be able to open accounts for their payments would help address and solve the problem. Unfortunately this was not the case and ItalBank seemed to have created more problems than they solved.

Marcus Wide has asked that any victim that has experienced difficulty in receiving their payments should make Grant Thorton aware of their problems and Grant Thornton will check the claims and where payment has not been received, they will remedy this oversight.

Please do not waste time and money by making spurious claims that have already been paid, but genuine oversights by ItalBank will be addressed and oversights rectified.

Marcus Wide has made his personal email address available so that he can monitor and have knowledge of the problems.

All outstanding – unpaid – claims should be sent to either

marcus.wide@uk.gt.com or Stanford.enquiries@uk.gt.com

 

Read Read more Here:

For a full and open debate on the Stanford receivership visit the Stanford International Victims Group – SIVG official Forum http://sivg.org.ag/


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Grant Thornton Notice to Creditors Re Net Wins and Preferences

The Joint Liquidators determined after taking appropriate legal advice that certain payments made by Stanford International Bank Limited (whilst it was still operating) were made in a way that they should be “clawed back” into the Liquidation estate, and re-distributed amongst all the of the creditors/victims. In effect, the Joint Liquidators say that these payments were made from money that should have been available to all victims, not just the few. The Joint Liquidators have provided, or will provide, written notice to all those who received such payments, also described as “Net Winners” or Preferences Recipients”, of this position. If all such amounts were recovered and re-distributed, this would result in an additional 24% of their approved claims to the 80%+ of creditors/victims who did not benefit from these payments.

To read the full transcript along with the Amicus order issued by the court click here.

 

For a full and open debate on the Stanford Receivership visit the Stanford International Victims Group – SIVG official forum http://sivg.org.ag/

 

AMENDED CLAIM FILED against Toronto Dominion Bank

The plaintiffs claim from the defendant, The Toronto-Dominion Bank (“TD Bank”):

 

(a) damages in the Canadian dollar amount equivalent to US$5.5 billion and further amounts to be determined prior to trial;

(b) an accounting and disgorgement of profits in amounts to be determined prior to trial;

(c) prejudgment and post-judgment interest on the foregoing amounts pursuant to the Court of Justice Act;

(d) costs of this action on a substantial indemnity basis plus H.S.T.; and (e) such further and other relief as this Honourable Court may deem just.

To view the full lawsuit filed by Grant Thornton against Toronto Dominion Bank on April 11th 2014 click here

For a full and open debate on the Stanford Receivership visit the Stanford International Victims Group – SIVG official forum http://sivg.org.ag/

 

Gov’t keen to offer incentives for Guiana Island project

This could be good news for Stanford victims if Grant Thornton are able to sell Guiana island. No figures mentioned but we can assume Grant Thornton will be requiring a substantial sum for the sale of the island. which in turn will result in more money for the victims

ST JOHN’S, Antigua – Finance Minister Harold Lovell said Yida International Investment Antigua Limited, led by Yida Zhang, is seeking approval under the Citizenship by Investment Programme (CIP) as well as incentives under the Business and Tourism (Special Incentives) Act for a mega resort and residential development on Guiana Island and surrounding areas.

“Government has approved the project and is willing to give the necessary concessions,” Lovell said.

“We have done everything we can to facilitate the project and get it moving,” he added. “The possibilities exist that we do what is necessary in order to ensure that the project comes off the ground.”

Lovell said the group is still finalizing its purchase of the 1,517 acres of waterfront land, including Guiana Island, Crump and Rabbit Island and the Crump Peninsula, from the Stanford liquidators.

The IPR concept for the area put to market by the Stanford liquidators includes five hotels with 1,060 keys, 1,300 residential units, a casino and conference center, golf course (27 holes), marina and landing facilities and commercial, retail and sports facilities.

Lovell said the government has been doing its part to ensure the mega project can move ahead full speed, but is waiting for the group to finalise its purchase from the Stanford liquidators.

To join the debate click here.

For a full and open debate on the Stanford Receivership visit the Stanford International Victims Group – SIVG official forum http://sivg.org.ag/

 

Open Letter from COViSAL to JLs & Antigua Court Objecting to Letter of “Preference” Payments & “Proposal

COALICION VICTIMAS DE STANFORD AMERICA LATINA (COViSAL)

 

May 12, 2014

Open Letter from COViSAL to the Joint Liquidators and the High Court of Justice of Antigua and Barbuda objecting to letter of “Preference” Payments and “Proposal”

The Joint Liquidators Proposal to Stanford’s victims: Pittance, intimidation, or both?

On February 17, 2014, COViSAL denounced the Joint Liquidators’ actions to claw back funds from innocent victims by sending a very damaging letter asking for the return of money withdrawn from their accounts during the six months prior to the collapse of the Stanford International Bank Limited (“SIBL”). They demanded a response within 120 days of receipt of the letter. COViSAL’s response can be read at http://www.scribd.com/doc/223742781/Correspondence-from-COVISAL-February-17th-2014-English

The Joint Liquidators of SIBL, Marcus Wide and Hugh Dickson of Grant Thornton, then sent another letter dated April 9, 2014 to a select group of innocent Stanford victims with a proposal titled: Stanford International Bank Limited in Liquidation – Proposal re Preference Claims and Distribution Process.

The letter states that innocent victims received “preference” payments under the Joint Liquidators interpretation of the International Business Corporation Act (“IBCA”) of Antigua. We have reason to believe that their attempts to recover the alleged “preferential” payments are flawed under Section 204 of the IBCA.

Continued…………………….

To read the full transcript click here.

For a full and open debate on the Stanford Receivership visit the Stanford International Victims Group – SIVG official forum http://sivg.org.ag/

Court Hearing on Preference Payments Next Week

Next week there will be a court hearing at which time the Court will be challenging Grant Thornton’s view on preferred payments. So that the issue is properly put to the Court it is important that anyone who wants to make a specific objection does so in the manner set out in the preference letter as these will all be presented to the court by opposing counsel on your behalf. Once Grant Thornton have clear instructions from the Court they will post it on their website.

It is imperative that we get as many objections as possible before the courts and make our voices heard. Anyone who has received a preference letter from Grant Thornton needs to send an email to make sure we have as many objections before the courts as possible. Please get writing.

To join the debate click here.

For a full and open debate on the Stanford Receivership visit the Stanford International Victims Group – SIVG official forum http://sivg.org.ag/