British Virgin Islands Business News

The analysis of the latest events in BVI and worldwide, affecting BVI business environment; facts and statistics on BVI International Business Companies involved in global business activities.

Monday, January 26, 2009

Court Decision on Appointing Joint Administrators for Whitten Trust

Following the Public Statement No. 1 of 2009 on Reserve International Liquidity Fund, the British Virgin Islands Financial Services Commission issued public announcement to inform the public on the appointment of Joint Administrators for Whitten Trust Company Limited, the holder of the Class I trust licence and one of companies of Whitten Capital Group. Upon the application of the Commission, on January 14, 2009 the High Court of Justice of the British Virgin Islands has appointed Mr. Ian Trumper, Senior Managing Director of FTI Forensic and Litigation Consulting in London, and Mr. Ian Thompson, Managing Partner in FTI Forensic Accounting Limited, BVI office as Joint Administrators of the Trust.

In the post of Joint Administrators, they will have all the powers needed to take over and manage the Trust, and get all the information relevant to its affairs. Also, by this statement they are required to report to the High Court of Justice of the British Virgin Islands and the Commission within 45 days on the exercise of their powers.

The statement was published by the FSC on January 14 2009, and signed by Managing Director/CEO of the Commission Robert A. Mathavious.

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