“His approach to litigation is pragmatic, measured and commercial” “Mark is very experienced in large-scale commercial litigation in the UK courts” “Mark is diligent, detail oriented and reliable”
Questions & Answers
Mark is a partner with Grant Thornton New Zealand having recently returned to his home country after 15 years with Grant Thornton in the British Virgin Islands. He has vast experience of dealing with fraudulent schemes and contentious cross-border insolvencies. He is a joint liquidator of the world’s second largest Ponzi scheme, Stanford International Bank Limited, in which 17,000 victims lost $5 billion. Those who work with Mark value his calm, collaborative and commercial approach to matters.
What do you enjoy most about your role as an asset recovery expert?
The extremely varied nature of the work (some examples of the variety I have experienced include anything ranging from selling an island, interviewing a fraudster in prison, to being examined in court) and the commercial mindset required for asset recovery.
How has the market changed since you first began practising?
Firstly, the standard of the professionals that practise in this space has increased significantly. Secondly, more investors are chasing asset recovery opportunities as they become aware of the investment opportunities in this space – for example, by funding liquidators’ actions or buying up claims of creditors in insolvent entities.
Which areas of work are currently key in your practice?
Litigation support is a growing area for us in providing expertise around financial investigations and asset tracing. We are also seeing more interest in litigation funding. For example, Grant Thornton UK LLP’s exclusive enforcement fund has been an extremely valuable tool in unlocking opportunities.
In what ways has covid-19 impacted asset recovery processes?
The inability to travel has had a large impact – some positive and some negative. Arguably court hearings have become more efficient and cost effective done virtually, although the inability to have those important face-to-face meetings has definitely had an impact on the ability to build strong relationships.
How do you prepare for multi-jurisdictional investigations?
In short, it’s making sure you have the right people to call in the right locations. International networks are critical. It’s like any high-performing team in that the ability to communicate quickly and effectively is critical.
What inspired your recent move from BVI to New Zealand?
As the saying goes there is no place like home, and despite being away for 18 years, I have always felt a strong pull of home. The life and work experiences I have had overseas were fantastic and I hope to draw on those as I work to establish myself as an asset recovery expert in New Zealand.
How do you see cryptocurrency and virtual assets forming a significant part of your practice in the future?
There is no doubt they will form a significant part of our asset recovery work going forward. My colleagues at Grant Thornton in New Zealand, David Ruscoe and Russell Moore, are at the forefront of this area as they continue their efforts to return cryptocurrency to creditors in their role as liquidators of New Zealand-based Cryptopia.
What is the best piece of career advice you have ever received?
It’s a marathon not a sprint. It sounds trite but to make an impact in this field it’s all about relationships, and building strong relationships takes time.
