Walsh’s Bahamian assets frozen by bankruptcy trustee

Deloitte and Touche, the accounting firm acting as bankruptcy trustee for Bre-X Minerals, has obtained a court order freezing the Bahamian assets of former Bre-X chairman David Walsh.

The injunction, granted ex parte by the Bahamian Supreme Court, prevents Walsh, his wife Jeannette, and three companies through which the Walshes are believed to have held a portion of their assets from disposing of, dealing with, or diminishing the value of assets held in the Bahamas. Two banks that had direct or indirect business dealings with the Walshes, Ansbacher Bahamas and Bank of The Bahamas, have been ordered to disclose relevant individual and corporate bank records.

The injunction, given a limit equivalent to about $40 million in Canadian funds, also enjoins the defendants not to deal with assets held outside the Bahamas, but leaves enforcement of this order to courts in other countries.