Offshore restructuring specialist Kalo joins Interpath Advisory

25 July 2022 4 min. read

Restructuring and consulting firm Interpath Advisory has completed the acquisition of Kalo. The insolvency and advisory firm boasts in BVI, the Cayman Islands and Anguilla – key areas of expansion for restructuring firms in recent months.

Founded over 20 years ago, Kalo boasts two decades of experience in restructuring, insolvency, stakeholder disputes, asset recovery and fraud investigations. In that time, it has been involved in a number of major offshore and cross-border restructurings.

Key cases include being the first Cayman liquidator to be part of a court-approved, multi-jurisdictional debt restructure of a group based in the People’s Republic of China; administering the first British Virgin Islands (BVI) liquidator appointments to be recognised in Dubai, the Dubai International Financial Centre and Singapore; and being installed as the first ‘light touch’ provisional liquidator in the BVI as part of a significant oil and gas restructuring. The firm has also acted on some of the largest fraud investigations in the BVI and Cayman Islands in the last 20 years, while achieving recoveries of billions of dollars for stakeholders.

Offshore restructuring specialist Kalo joins Interpath Advisory

Explaining why Kalo has decided to join another firm, Paul Pretlove, Head of Kalo’s BVI practice, noted, “By combining with Interpath, we will be in a fantastic position to compete for the largest global mandates in a more seamless way, while still maintaining that crucial independence that has made us so successful versus the traditional Big Four firms.”

The BVI, Cayman Islands and Anguilla are overseas territories in the Caribbean, which as well as being popular holiday destinations, are arguably even better known a tax havens. This has attracted large companies and financial operators, which in turn provides opportunities for professional services firms, offering their advisory and accounting knowhow to offshore entities. Last year, this saw Teneo swoop for the restructuring arm of KPMG in the Cayman and British Virgin Islands, it prioritised the Caribbean for winning future insolvency work among holding companies for businesses operating in major economies such as China and Hong Kong.

Kalo itself has enjoyed rapid growth in recent years, boasting the largest team in the BVI, including three licenced appointees, which has led us to win the majority of the most significant work coming out of the jurisdiction in recent years. By purchasing the firm, Interpath Advisory is able to gain an important foothold in a booming regional insolvency market.

Blair Nimmo, Chief Executive of Interpath Advisory, stated, “The acquisition of Kalo is an important milestone as we continue to build upon our vision of becoming a truly global provider of restructuring and specialist advisory services, with the capability to deliver the largest and most complex assignments. BVI and Cayman are so often at the centre of international restructurings and insolvencies, so securing a significant foothold in these jurisdictions was always a key priority for us.”

The acquisition will see Kalo Caribbean CEO Gordon MacRae, along with managing directors Charlotte Caulfield, Elizabeth Mackay and Paul Pretlove, coupled with its team of more than 30 experienced professionals spanning two distinct offices, come on board to bolster the reach and strength of Interpath’s international advisory offering. Gordon MacRae and Paul Pretlove will continue to lead the Cayman and BVI offices respectively.

Gordon MacRae, CEO of Kalo Caribbean, added, “We’re delighted to be joing Interpath at such an exciting time in its evolution. Not only does the firm have a stellar reputation for delivering exceptional service, consistently standing shoulder-to-shoulder with its clients, but we also know that the team is committed to building an inclusive culture where its talented people can thrive and develop fulfilling careers. We look forward to continuing to develop our international and cross-border capabilities in the Caribbean, building on this platform for growth.”