Griffin Management Limited

Petition for Court Supervision of a Voluntary Liquidation in the matter of Bibby International Services (Cayman Islands) Limited at the Grand Court of the Cayman Islands.

Cayman Islands-based Caledonian Bank has millions of dollars of related-party transactions that typically "can be difficult to recover full value" and is exposed to "a single large loan" of $93.7 million, representing more than half of all loans receivable. The grim news for creditors came in the first report of liquidators Keiran Hutchison and Claire Loebell.

First Report of Joint Official Liquidators Keiran Hutchison and Claire Loebell to Creditors of Caledonian Bank Limited.