On December 24th, the Grand Court of the Cayman Islands authorized the JOLs of four offshore AJW Funds to hire RCT to pursue third-party litigation claims. Separately, the JOLs also act as liquidators for 6 onshore funds. The AJW funds were a failed PIPE investment fund that once had a NAV in excess of $800 million that has turned out to be almost entirely worthless. RCT is investigating claims against insiders and third-party service providers.
