UPDATE: Judge says Stanford liquidators can file for bankruptcy

HOUSTON – The Antiguan liquidators for Texas financier Allen Stanford‘s offshore bank in Antigua may seek bankruptcy protection for the institution under U.S. law, a federal judge has ruled.

Liquidators Nigel Hamilton-Smith and Peter Wastell, who were appointed by the Antiguan government, “have shown good cause” to seek Chapter 15 bankruptcy for Stanford International Bank Ltd., U.S. District Judge David Godbey in Dallas said in a court order filed late on Friday.

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Reuters