UK Firm To Liquidate Antiguan Stanford Unit

Law360, New York (April 16, 2009, 12:00 AM EDT) -- Stanford International Bank Ltd., the Antigua-based company through which billionaire banker Robert Allen Stanford allegedly ran an $8 billion Ponzi scheme, will be liquidated by a receiver appointed by an Antiguan court.

U.K.-based Vantis PLC has announced that Nigel Hamilton-Smith and Peter Wastell, its chief partners, were appointed joint liquidators by the High Court of Antigua and Barbuda on Wednesday.

The Antiguan court appointed Vantis as receiver for Stanford International Bank and Stanford Trust Co. Ltd., both subsidiaries of Stanford Financial Group, on Feb. 19. Stanford's...
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