Press Room
Grant Thornton appointed as liquidator to K1 Global
Ltd
Hugh Dickson and Mark McDonald of Grant Thornton have been
appointed as liquidators of K1 Global Ltd (“K1 Global” or “the
fund”) under section 159(2) of the British Virgin Islands
Insolvency Act 2003 by the shareholder to the fund.
K1 Global is incorporated in the British Virgin Islands and is one
of two BVI investment vehicles thought to be associated with the K1
Group, a Germany based hedge fund manager. Hugh Dickson and
Mark McDonald were appointed liquidators of K1 Invest Ltd, the
second of the two funds, on 9 November 2009, also at the behest of
the shareholder.
A K1 Global fact sheet shows assets under management totaling Euro
173m at 31 July 2009.
Mark McDonald of Grant Thornton commented, “As with K1 Invest, the
relationship between K1 Global and the K1 Group is as yet
unclear. We are in the course of contacting the German
authorities as a matter of urgency to try and gain some visibility
on the current situation and have commenced investigations into the
financial position and affairs of the fund. We are already in
contact with the relevant service providers to the fund to assist
with our investigations.”
Grant Thornton will contact K1 Global creditors shortly to advise
on their initial findings and future communications. In the
meantime, creditors are asked to contact the liquidators care of
K1Global@gtuk.com to ensure
their details are on file and to facilitate future
communications.