Distressed Fund Services
Knowledge
Our global team brings a wealth of knowledge and everyday practical application and insight wherever your jurisdiction; specializing in directorships, voluntary liquidations and insolvent/official liquidations. We have taken appointments in the Cayman Islands, Ireland, the BVI, the Republic of Seychelles and the Bahamas.
Experience
We have been appointed liquidator on a number of high profile, court supervised, multi-jurisdictional restructuring, directorship and insolvency engagements. These mandates have included fraud investigation and asset recovery services, asset tracing, multi-jurisdictional litigation, asset sales, forensic accounting and foreign recognition.
Efficiency
We have a strong reputation for reliability and efficiency. We follow a prescribed process and methodology to ensure that our cases are completed in a timely and efficient manner.
Doing
More
The team at DM are specialist providers of cross border insolvency, restructuring and forensic investigation services for investment funds and SPV’s. Our deep investment fund industry knowledge and strategic relationships with legal, compliance and accounting service providers ensures we do more for our clients.
With over 30 years experience, our appointment takers have acted on numerous contentious engagements, and have led appointments in Ireland, the Seychelles, the Cayman Islands, the BVI, Delaware and the Bahamas in various capacities such as voluntary liquidators, trustees, court liquidators, official liquidators and receivers:
Directorships
We provide special situation directorship services to funds, holdings companies and other offshore vehicles faced with elements of distress. Often these situations are contentious with high value assets that can be illiquid. Such mandates often involve coming in alongside incumbent directors, taking the reins as replacement general partner through the incorporation of a new entity or replacing the entire board. Our directors are experienced in project managing lawyer relationships and cross-border litigation, which is sometimes beyond the desire, experience and skill set of the in-office board of directors.
Non-Contentious Liquidations
In less contentious and solvent situations, we act as voluntary liquidators. Such liquidations can be a cost effective and efficient way to hold assets, consolidate services (reduce costs), manage litigation and provide ongoing reporting to investors in the medium to long term to give them the comfort they need. Such situations are commonly known as “soft wind-downs”.
We are adept at navigating regulatory requirements and regularly prepare third party liquidator reports in lieu of audited accounts in accordance with CIMA’s license termination regulations (for Cayman Island regulated funds) and can assist generally with applying to CIMA for a waiver of audit obligations.
The appointment of a voluntary liquidator to a fund can also assist in mediating disputes amongst shareholders. Voluntary liquidations can be single entity rapid wind downs or larger group structures with cross–border entities and assets in several jurisdictions that may take longer to close.
Insolvency and Restructuring
We are highly experienced insolvency practitioners who understand the offshore landscape and are realistic around fee structuring. Our insolvency practitioners have acted as official liquidators, voluntary liquidators, receivers and liquidating trustees in asset recovery and contentious situations.
We provide experienced insolvency practitioners who are qualified and have acted as court appointed liquidators, receivers and trustees in the Cayman Islands, Ireland and the Seychelles. Our insolvency practitioners have over 30 years–experience in liquidating companies in the Cayman Islands, Delaware, Ireland, the British Virgin Islands, the Bahamas and Bermuda.
Forensic Investigation
Forensic investigations in the financial services industry plays a crucial role in detecting and preventing financial crimes such as fraud, money laundering and embezzlement. As a provider of forensic investigation services, DM specialise in uncovering financial discrepancies, fraud, and misconduct. Our expertise includes forensic accounting, data analysis, and investigative techniques to help entities identify financial crime, and ensure financial integrity. Our goal is to enable businesses to address potential threats proactively and ensure transparency in their financial operations.
Liquidator of over 100 entities in the past 3 years.
Meet your Distressed Funds Services Team
To find out how we can Do More for you, please contact us
Micheál McGreal
Director
Micheál joined DM in 2019 and is leader of the DM insolvency services. Micheál specialises in providing insolvency, asset investigation and forensic services in multi-jurisdictional settings. Prior to joining DM, Micheál worked with University College Galway and also spent a number of years with Custom House Fund Services as the Managing Director of its Dublin office. Micheál holds diplomas in Business Studies and Advanced Taxation and is a qualified Chartered Certified Accountant.
Richard Murphy
Director, Head of Restructuring and Fiduciary Services
Richard is an experienced director and insolvency practitioner who provides fiduciary and restructuring advice to offshore funds and companies across a number of investment strategies including structured finance, digital assets, litigation funding, private equity and other alternative investment strategies.
He has acted as a court appointed official liquidator, receiver and voluntary liquidator in the Cayman Islands and the Republic of Seychelles and has served as a board member on a variety of offshore registered funds and companies. He has over 17 years’ experience in providing restructuring and insolvency advice.
Prior to joining DM Financial, Richard was a director at a leading fiduciary and restructuring services provider in the Cayman Islands where he directed a portfolio of directorship and liquidation cases mostly in complex, distressed and special situations. He is well versed with the offshore regulatory and legislative landscape and its impact on Cayman Islands entities.
Richard commenced his career in Ireland at KPMG and later worked with AIB Bank. Richard is a chartered accountant and a fellow of the Institute of Chartered Accountants in Ireland. In 2022 he completed the intensive Global Insolvency Practice Course to become a Fellow of INSOL International. He is a qualified court appointed liquidator in the Cayman Islands and an accredited director by the Chartered Governance Institute of Canada and is registered with the Cayman Islands Monetary Authority as an approved director.
richard.murphy@dmfinancial.com
p. +1 (345) 321-2409
Christian Hooton
Manager
Christian joined DM in April 2022. Based in our Cayman Islands office, Christian works in the area of Corporate and Directorship services, AML compliance and liquidation and insolvency services.
Prior to joining DM, Christian worked at BNY Mellon, MUFG, BNP Paribas and Citco Fund Services where he gained extensive expertise in hedge fund administration and fund accounting. Christian has extensive knowledge of hedge funds, funds of funds and is familiar with different hedge fund structures and jurisdictions.
Christian holds a Higher Diploma in Business Studies from the Michael Smurfit School of Business and a BSc from University of Limerick. Christian is a member of the Association of Chartered Certified Accountants and is a Certified Anti-Money Laundering Specialist.
Niall O’Shea
Consultant
Niall joined DM in 2019 and is based in our Limerick office. Niall brings over 15 years’ experience to the Insolvency and Forensic Investigations team and has worked in many jurisdictions including London, Zurich, Singapore and Melbourne. Prior to joining DM, Niall worked at UBS, National Australia Bank and Deloitte. Niall holds a Bachelor’s Degree in Actuarial and Financial Studies from University College Dublin.
Sophia Harrold
Legal Secretary
Based in our Head Office in Limerick, Sophia joined the Insolvency and Forensic Investigation team in 2023 in the role of Legal Secretary. Sophia has a first-class honours degree in Law from University of Limerick where she was a member of the Law Society. Sophia has a keen interest in constitutional issues.
Sophia specialises in complex Irish and Cayman liquidations.