By Kit Chellel – Jan 18, 2012
Liquidators of R. Allen Stanford’s Antigua-based bank said investors who lost money in the alleged $7 billion fraud should submit formal claims to creditors.
Grant Thornton LLP, appointed by an Antiguan court to wind up Stanford International Bank, said creditors and victims needed to complete and submit a claim form if they wanted to receive distributions from the liquidators.
The firm hopes to release funds held in the U.K., Canada and Switzerland and proceeds from the sale of Stanford property in Antigua.
“Today we can’t say that either is imminent, but we continue pushing forward on both fronts as hard as we can to make distribution to depositor victims,” Grant Thornton liquidator Hugh Dickson said in an e-mailed statement.
Liquidators in Antigua and the U.S. are seeking control of Stanford’s assets to return money to his alleged victims, including those who bought worthless certificates of deposit from Stanford International Bank.
To contact the reporter on this story: Kit Chellel in London at cchellel@bloomberg.net
To contact the editor responsible for this story: Anthony Aarons at aaarons@bloomberg.net
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