Interpath Advisory has announced the acquisition of Kalo, the restructuring and insolvency firm with operations in BVI, the Cayman Islands and Anguilla.
Financial consulting firm Interpath was last year spun out of KPMG UK and the acquisition of Kalo will expand the company’s presence in the Caribbean which already includes an office in Barbados.
Earlier this year, Interpath made senior hires to establish a new business in Ireland.
Blair Nimmo, chief executive of Interpath Advisory, said in a press release, “The acquisition of Kalo is an important milestone as we continue to build upon our vision of becoming a truly global provider of restructuring and specialist advisory services, with the capability to deliver the largest and most complex assignments.
“BVI and Cayman are so often at the centre of international restructurings and insolvencies, so securing a significant foothold in these jurisdictions was always a key priority for us.”
Kalo has been involved in several notable offshore and cross-border restructuring, including being the first Cayman liquidator to be part of a court-approved, multi-jurisdictional debt restructure of a group based in the People’s Republic of China; administering the first BVI liquidator appointments to be recognised in Dubai, the Dubai International Financial Centre and Singapore; and its appointment as the first ‘light touch’ provisional liquidators in the BVI as part of a significant oil and gas restructuring.
The firm has also acted on some of the largest fraud investigations in the BVI and Cayman Islands over the past two decades.
“Many of us at Interpath have known the team at Kalo for a long time, so it feels particularly special that they are joining us on this journey,” Nimmo said. “And the great news is that we have already won our first UK-BVI cross-border engagement, demonstrating the strength in depth we have in coming together.”
Kalo Caribbean CEO Gordon MacRae, along with managing directors Charlotte Caulfield, Elizabeth Mackay and Paul Pretlove, and a team of more than 30 experienced professionals in two offices will join Interpath. Gordon MacRae and Paul Pretlove will continue to lead the Cayman and BVI offices respectively.
“We’re delighted to be joining Interpath at such an exciting time in its evolution,” MacRae said. “Not only does the firm have a stellar reputation for delivering exceptional service, consistently standing shoulder-to-shoulder with its clients, but we also know that the team is committed to building an inclusive culture where its talented people can thrive and develop fulfilling careers.”
Paul Pretlove, managing director and head of Kalo’s BVI practice, said the firm “has enjoyed phenomenal growth, boasting the largest team in the BVI, including three licenced appointees, which has led us to win the majority of the most significant work coming out of the jurisdiction in recent years.
“By combining with Interpath, we will be in a fantastic position to compete for the largest global mandates in a more seamless way, while still maintaining that crucial independence that has made us so successful versus the traditional Big Four firms.”
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