According to Miami based publication Offshore Alerts, a hearing of a petition to appoint KPMG as receivers for the fund will take place on Wednesday at the Grand Court of the Cayman Islands, where the fund is domiciled.
As reported, the fund fell into difficulties in mid-October following the publication of a series of allegations by Offshore Alerts about the fund and its manager Tim Schools, the managing director of the fund’s investment manager Tangerine Investment Management.
Last week, International Adviser reported that the fund’s directors had informed shareholders that the fund would go into receivership.
