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ARTICLE · 20 JUNE 2017

KRyS Secures Further Win In Long-Running Litigation Over SIPC Claim

KRYS Global
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Kenneth Krys and Charlotte Caulfield secured a further victory in their long-running litigation with US hedge-fund Farnum Place LLC before the US Second Circuit of Appeals.

Cayman IslandsLitigation, Mediation & Arbitration
Kenneth Krys
Kenneth Krys
Charlotte Caulfield
Charlotte Caulfield

Kenneth Krys and Charlotte Caulfield, Joint Liquidators of Fairfield Sentry, secured a further victory in their long-running litigation with US hedge-fund Farnum Place LLC before the US Second Circuit of Appeals.

In a Summary Order issued today, the US Court of Appeals for the Second Circuit in New York denied an appeal by Farnum Place LLC seeking to overturn a previous decision of the Bankruptcy Court, on remand from an earlier Second Circuit decision in favor of the Joint Liquidators, to disallow a sale of Sentry's allowed $230 million SIPC claim in the liquidation estate of Bernard L Madoff Investment Securities Inc to Farnum Place LLC, saying "We have considered Farnum's remaining arguments and conclude that they are without merit.".

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