Statement from Receiver-Managers to Stanford International Bank Limited and Stanford Trust Company Limited
LONDON--(BUSINESS WIRE)--Nigel Hamilton-Smith and Peter Wastell, Client Partners at Vantis Business Recovery Services, a division of Vantis, the UK accounting, tax and business advisory group, were appointed by the Financial Services Regulatory Commission (FSRC) of Antigua and Barbuda as Joint Receivers on 19th February 2009 of Stanford International Bank Ltd and Stanford Trust Company Ltd, and this appointment was ratified by the Antiguan Court on 26 February 2009.
Following a statement from the US Receiver issued on 2nd March regarding the release of some accounts, Nigel Hamilton-Smith comments:
"The statement issued by the US Receiver relates only to brokerage accounts held with Stanford Group Company. The investment assets managed by entities within Stanford Group Company are not related to Stanford International Bank, they are the personal property of the relevant clients of Stanford Group Company. The US Receiver is only seeking to release these personal assets, not any assets associated or connected to Stanford International Bank. At this time, we believe the assets of Stanford International Bank will not be affected."
All Stanford International Bank assets remain frozen, while investigations continue to ensure all assets are protected for the benefit of investors.
Further communications will be issued when practicable.
For further information investors and creditors should visit www.vantisplc.com/Stanford or email stanfordenquiries@vantisplc.com
Vantis Business Recovery Services is a trading division of Vantis Group Ltd, which is regulated by the Institute of Chartered Accountants in England and Wales for a range of investment business activities. Vantis Group Ltd is a Vantis plc group company.
Vantis is the AIM listed UK accounting, tax and business advisory group.
Contacts
Vantis Business Recovery Services:
Kate Macnamara, PR Account Director
Gyro International
+44 (0) 7788 572271
kate.macnamara@gyrointernational.com
or
Richard Darby/Chris McMahon
Buchanan Communications
+44 (0)20 7466 5000