Grant Thornton appointed as K1 Global liquidators

19/11/2009 Grant Thornton appointed as K1 Global liquidators

Grant Thornton has been selected to oversee the liquidation of investment vehicle K1 Global.

Hugh Dickson and Mark McDonald of the audit jobs provider have been appointed as liquidators of the British Virgin Islands-based fund.

It is one of two investment vehicles on the islands that are thought to be associated with Germany-based hedge fund manager K1 Group and Mr McDonald said that the relationship between the two "is as yet unclear".

"We are in the course of contacting the German authorities as a matter of urgency to try and gain some visibility on the current situation," he remarked.

A fact sheet from K1 Global showed that its assets under management totalled ?173 million (£154 million) as of July 31st 2009 and Mr McDonald added that Grant Thornton has begun an investigation in order to ascertain the financial position of the fund.

The business advisory firm was recently appointed as administrator of the Kenmore Property Group, which operates across Europe, the Middle East and the UK.

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