Topic: Argyle Funds SPC
Appeals court allows fund to sue BDO affiliates in New York
The Cayman Islands Court of Appeal ruled last week that the defunct Argyle Funds SPC can sue several branches of the accounting firm BDO in a New York court for allegedly failing to spot fraud by two of the fund’s credit advisers.
BDO sued over alleged shoddy audits
Liquidators for the Cayman Islands-based hedge fund Argyle Funds SPC are suing several branches of the auditing firm BDO Ltd., including the one in the Cayman Islands, for allegedly failing to spot fraud by two of the fund’s credit advisers, costing Argyle millions of dollars and causing it to enter liquidation as a result.
