Independent insolvency and restructuring firm, Kalo, has been invited to join INSOL International’s Group of 36 (G36).
INSOL is the worldwide federation of national associations of accountants and lawyers who specialise in turnaround and insolvency. It formed the Group of 36 as the main vehicle for its activities.
As a G36 member firm, Kalo will provide ongoing financial and intellectual resources to INSOL to enable it to carry out its collaboration with major projects that shape the future of global insolvency practice such as: The World Bank Principles and Guidelines for Effective Insolvency Systems; the UNCITRAL Model Law on Cross-Border Insolvency; the UNCITRAL Legislative Guidelines on Insolvency Law; or the IMF Report on Efficiency Insolvency Procedures.
In a press release, Kalo said its membership in the G36 is acknowledgement of the role the company has played in shaping significant aspects of offshore insolvency and restructuring case law on some of the most high-profile related matters, including fraud, to pass through the international courts in recent years.
Gordon MacRae, CEO of Kalo, said in the press release, “We live in a world that is more interconnected than ever before. In order for us to operate effectively, we understand the need to have dynamic and robust cross-border restructuring and insolvency solutions at our disposal, no matter where transactions touch the globe.”
He said, “We hope that through our membership of G36 we can help shape future thinking on best practice for dealing with cross-border insolvency and restructurings across the world, to ensure that stakeholders are fairly protected, and risk is minimised.”
Kalo has offices in the BVI and the Cayman Islands.
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