A Canadian court ruled late yesterday to recognize the U.S.-based Stanford Financial Group Receiver Ralph Janvey, according to Reuters. The court’s decision will mean that Janvey will be able to liquidate any Stanford group assets located in Canada for the benefit of victims. There are currently two receivers handling the breakdown of the alleged-ponzi scheme, Janvey and an Antiguan-appointed receiver. Since the Feb. 17 Securities & Exchange Commission freeze on Stanford and it’s subsidiaries, the Antiguan receiver and Janvey have fought for control over Stanford assets located outside the U.S.
To read the full report from Reuters, click here.
