British Virgin Islands (BVI) law firms have been heavily involved in advising hedge funds hit by the rapid decline in market conditions and investor sentiment. The fallout from the Bernard Madoff fraud is also being keenly felt in the jurisdiction. Litigation specialists expect a spate of lawsuits in the second half of the year.
For now hedge fund restructuring work dominates. The need to restructure stems from the liquidity mismatch inherent in many hedge funds. The classic example is a fund
- Regulators to scrutinise CCP default auctions
- People moves: Bank of America names new Apac chiefs, Wilkinson leaves LGIM, Lloyds loses Coutte, and more
- Sefs, Libor fallbacks and risk governance in Asia
- VAR surges, revenues tank at French banks hurt by volatility
- A rush on Libor fallbacks to head off holdouts