NAFER INAGURAL INTERNATIONAL COMMITTEE OFFSHORE CONFERENCE
In early February 2017, Tom Brady led a spectacular comeback over the Atlanta Falcons. Scoring 25 un-answered points the Patriots beat the Falcons 34-28 in Houston, winning Superbowl 51. The teams combined utilized 14 receivers that night.
The only place on earth with more receivers gathered in a single venue happened to be the Westin on Seven Mile Beach in the Cayman Islands which hosted NAFER inaugural international committee offshore conference. This august event, The Cayman Insolvency and Asset Recovery Conference, was attended by sixty-some of the leading Federal Equity Receivers from the United States and thirty-some Cayman Island insolvency practitioners.
The supporting concept for this gathering was a three legged stool of ambitious goals.
Much of the international insolvency community are not familiar with the unique tool of US receiverships as a tool in insolvency and asset recovery. A portion of this day was the US Federal Receiver group educating the Cayman Insolvency professionals about the US Receivership tools to add another tool to their kit.
Similarly, many US Receivers encounter offshore jurisdiction issues as they marshal assets in their respective estates. Each offshore venue has unique laws, practice rules, and cultural aspects Knowledge of these can smooth the pass to success, ignorance can leave valuable assets out of reach or require significant time and cost for recovery. The Cayman insolvency professionals did an outstanding job communicating the options for working with the Cayman professionals and Cayman courts.
Lastly, between a sunset cruise, beachside cocktail hours and coffee breaks throughout the day this conference provided an outstanding networking opportunity for all involved. As of the writing of this article the networking and introductions provided through the conference already had resulted in six referrals amongst the parties.
The NAFER International Committee was exceptionally pleased with the success of this conference. We’d like to thank everyone who participated as a sponsor, speaker, or attendee.
Based on glowing feedback and support, planning is already underway for a 2018 event in the British Virgin Islands. Stay tuned to the website ( www.nafer.org ) for more details later in the year.