Dundas wins lead role on $50bn Madoff fraud case
Dundas & Wilson's London corporate recovery team has bagged a top role advising on UK and European aspects of the high profile Bernard Madoff fraud case. Dundas insolvency partner John Verrill is leading a team advising Grant Thornton as joint provisional liquidator to Madoff Securities International.
December 24, 2008 at 07:49 AM
2 minute read
Dundas & Wilson's London corporate recovery team has bagged a top role advising on UK and European aspects of the high profile Bernard Madoff fraud case.
Dundas insolvency partner John Verrill is leading a team advising Grant Thornton as joint provisional liquidator to Madoff Securities International.
The Scottish leader was appointed last week (17 December) and has been liaising with the FSA, the US receivers and the US Department of Justice to formulate an order allowing Grant Thornton to act as officers of the court in hunting down assets and investigating the affairs of the company.
Dundas is working closely with the London office of Wall Street firm Richards Kibbe & Orbe, where name partner Lee Richards was appointed as receiver by the US courts after Madoff admitted the fraud – reportedly worth $50bn (£33.9bn) – on 12 December.
SJ Berwin scored a short term role advising the board of Madoff Securities International before it went into liquidation, while Ashurst has been instructed to advise the Financial Services Authority (FSA) alongside the body's in-house legal team.
3-4 South Square barristers Lexa Hilliard, David Allison and Tom Smith are advising Grant Thornton, the FSA and the receiver – Lee Richards – respectively.
Verrill joined Dundas in January 2007 from LG to establish a London insolvency practice for the firm.
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