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Prudence Pryce
Grant Thornton Specialist Services
Associate Director

Prudence Pryce

Prudence has worked with Grant Thornton’s Insolvency firm in the Cayman Islands since its inception in 2007 and has been seconded to Grant Thornton in Hong Kong and UK for collaborative Insolvency work and training in forensic investigation services respectively.
She has over 17 years’ experience in insolvency and Big 4 external audit combined. Her insolvency experience covers over 80 official and voluntary liquidation assignments across a variety of multi-jurisdictional complex structures including master-feeder structures, funds of funds, mutual funds, segregated portfolio companies, exempted limited partnerships, captive insurance companies plus local ordinary resident companies and non-profits.

Relevant Experience

  • Led the forensic investigation into a non-profit organisation’s allegations of fraud connected with the global FIFA investigation and involved cash tracing of over US$20 million across 15 bank accounts. Presented findings at the organization’s AGM.
  • Managed the official liquidation of a Cayman company with c.US$71 million in assets and over 60 subsidiaries globally forming an international group of mining companies involved in iron ore production, development and exploration. Primary investments were in mining operations and development opportunities in Brazil and Uruguay respectively but also in BVI, Canada, Singapore, Curacao, Netherlands, Indonesia, etc.
  • Managed the official liquidation of a Cayman company involved in a US$69 million Ponzi scheme spanning Canada, Bahamas and the Cayman Islands.
    Led the voluntary liquidation of a Cayman regulated Fund of Funds with a diversified portfolio of assets under management of approx. US$54 million. Assumed control of multiple subsidiaries and realized 60% of assets within first 9 months of liquidation.
  • Manged the official liquidation of a Cayman Islands registered mutual fund with US$30 million of largely Chinese investors' subscriptions and involving US$16 million alleged fraud.
  • Managing the official liquidation of a Cayman segregated portfolio company with US$25 million in assets comprising significant real estate in Uganda, and equities held via BVI subsidiaries in a Dubai-based technological company and Business Process Outsourcing entities across 7 sub-Saharan African countries.
  • US$7 billion liquidation of Stanford International Bank involving data recovery in Antigua and cash tracing analysis.
  • Led the voluntary liquidation of a group of 5 Cayman entities in a limited partnership master-feeder structure with FIN48 exposure in Spain and Thailand. By utilising sec. 129 powers through the Cayman Court to address foreign tax liabilities in the Cayman c.€1 million cash was preserved for the benefit of stakeholders.
  • Head Grant Thornton’s voluntary liquidation practice by overseeing execution of voluntary liquidations, train and supervise junior staff in the performance of liquidation assignments.
  • Oversee the liquidation of Irish entities with tax residency in the Cayman Islands.
  • Manage risk on assignments by reviewing and monitoring AML/CFT/PF/TFS risk assessments and CDD in compliance with Cayman Islands Anti-Money Laundering legislation.
  • Adept in FATCA and CRS legislation vis-à-vis liquidating entities.
  • Adept in the use of Insolvency Practitioners System, forensic software, Integrated Data Extraction and Analysis (IDEA) and QuickBooks Accounting software.

Qualifications & memberships

  • Certified Public Accountant (CPA)
  • Certified Fraud Examiner (CFE)
  • Certified Anti-Money Laundering Specialist (CAMS)
  • Bachelor’s Degree (Hons) Accounting / Psychology
  • Recovery & Insolvency Specialists' Association Cayman
  • Cayman Islands Institute of Professional Accountants
  • American Institute of Certified Public Accountants
  • Association of Certified Fraud Examiners (ACFE)
  • Vice President & founding member of ACFE Cayman Chapter
  • Association of Certified Anti- Money Laundering specialists


  • Pandemics and Pursuing Principled Practice: Avoiding the Pitfalls in Troubled Times, RISA, May 2020
  • Contingent Liabilities: a Director’s Responsibility? Cayman Financial Review, June 2019
  • Contingent Liabilities Points for the Cayman Islands Voluntary Liquidator to Consider, Cayman Financial Review, April 2017
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Prudence Pryce
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