RegAlertEnforcement · CIMA · 1 May 2018
Decision Notice – Infinium Global Fund Registration Cancellation
The Cayman Islands Monetary Authority has cancelled the mutual fund registration of Infinium Global Fund, effective 17 April 2018. This action follows findings that the Fund cannot meet its obligations, conducts business prejudicially to investors and creditors, and operates under unfit direction and management. The Authority specifically determined that directors Anton and Andriy Kalyta are not fit and proper persons to hold their positions, while noting the conclusion of the Controllership and lack of funding for a formal winding-up.
1 May 2018
Messrs. Anton Kalyta and Andriy Kalyta
Directors
Infinium Global Fund c/o PwC Corporate Finance & Recovery (Cayman) Limited 18 Forum Lane Camana Bay PO Box 258, Grand Cayman, KY1-1104 CAYMAN ISLANDS
By Post and Email
Dear Sirs,
Re: Decision Notice – Infinium Global Fund (Reg. #17128) (“the Fund”)
We write to you in your capacity as directors of the Fund.
As you are aware on 10 September 2014 the Cayman Islands Monetary Authority, pursuant to section 30(3)(e) of the Mutual Funds Law (2013 Revision), appointed Messrs. David Walker and Simon Conway (“the Controllers”) of PwC Corporate Finance & Recovery (Cayman) Limited to assume control of the affairs of the Fund¹.
The Controllership has ended. There is no funding available to move forward with a formal ‘winding-up’ of the Fund.
TAKE NOTICE:
The Cayman Islands Monetary Authority (“the Authority”) of 80 Shedden Road, Elizabethan Square, PO Box 10052, Grand Cayman KY1-1001, Cayman Islands, has taken the following action:
ACTION:
The Authority has cancelled the Fund’s mutual fund registration pursuant to section 30(3)(a) of the Mutual Funds Law (2015 Revision) (“the Law”).
REASONS:
The Authority is, pursuant to sections 30(1)(a),(b),(d) and (e) of the Law, satisfied that (i) the Fund is unable to meet its obligations as they fall due; (ii) is carrying on or attempting to carry on business in a manner that is prejudicial to its investors or creditors; (iii) the direction and management of the Fund has not been conducted in a fit and proper manner; and (iv) Messrs. Anton Kalyta and Andriy Kalyta are not fit and proper persons to hold the position of director of a regulated mutual fund.
¹ Effective 19 July 2016 David Alexander Kenneth Walker was replaced by Jess Shakespeare as Joint Controller of the Fund following his retirement from PwC Corporate Finance & Recovery (Cayman) Limited.
80 Shedden Road, Elizabethan Square, P.O. Box 10052, Grand Cayman KY1 - 1001, Cayman Islands Tel: 345-244-1639, Fax: 345-946-4651, Email: ContactCompliance@cimoney.com.ky, Web: www.cima.ky
*
Messrs. Anton Kalyta and Andriy Kalyta
Infinium Global Fund
1 May 2018
EFFECTIVE DATE OF DECISION:
The Authority’s decision regarding the above action is effective 17 April 2018.
Yours faithfully,
[Signature]
Patrick Bodden
Deputy Managing Director – Operations
Cayman Islands Monetary Authority
2
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- Law of 2013Not in RegAlert
“on 10 September 2014 the Cayman Islands Monetary Authority, pursuant to section 30(3)(e) of the Mutual Funds Law (2013 Revision), appointed Messrs. David Walker and Simon Conway”
- Law of 2015Not in RegAlert
“The Authority has cancelled the Fund’s mutual fund registration pursuant to section 30(3)(a) of the Mutual Funds Law (2015 Revision) (“the Law”).”
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Source: Cayman Islands Monetary Authority — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works
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