The proceeding on the bankruptcy of late stockbroker Rene Rivkin, related to his affairs in the UK and BVI, was started more than a year ago and is not over yet. Rivkin’s bankruptcy trustee, Anthony Warner of Sydney-based CRS Warner Kugel, planned to recover millions of dollars from Jersey bank account of the company called Thameslink, wholly owned by Rivkin and having BVI company called Derata as its sole director. In case of success, the funds were to be distributed to the creditors, including the Australian Taxation Office.
Now, the Royal Court of Jersey approved a claim of the trustee on the Thameslink, which has $2.7 million in its bank account in Jersey. Mr Warner confirmed that Jersey authorities would be releasing the $2.7 million Thameslink funds to the estate after declaring that Rivkin was the beneficial owner of the company – the fact Rivkin had previously denied. Also, Mr Warner said he would be given success to financial records of Thameslink, to examine them carefully and probably uncover new details of his Swiss bank accounts.
Rivkin’s estate was placed into bankruptcy last year, and his family co-operates with Mr Warner to recover funds believed to be held in offshore jurisdictions including BVI, by companies ultimately owned by Rivkin.