(Reuters) A Cayman Islands court ordered that an outside expert help unwind a hedge fund managed by Platinum Partners, a New York-based firm facing dual investigations by U.S. regulators. A local judge on Tuesday appointed insolvency specialist RHSW Caribbean as “joint official liquidators” of the Cayman-based Platinum Partners Value Arbitrage Fund (International) Limited, the so-called offshore version of Platinum’s flagship hedge fund offering, RHSW said in an email to Reuters.
RHSW will work with Bart Schwartz of Guidepost Solutions, who Platinum hired in July to assist with liquidating their main hedge funds and reporting to the U.S. Securities and Exchange Commission, which is investigating the firm along with the Department of Justice.
