BDO Mann Judd, chartered accountants and consultants, apart of the Bahamian local and international business landscape since 1977, celebrated its quarter century anniversary this month under the guidance of its original founder and senior partner, Clifford Culmer.
Guests attending the opening cocktail party held at the East Hill Club, included the former Prime Minister, the late Sir Lynden Pindling, the former Governor of the Central Bank, T. Baswell Donaldson, other local prominent dignitaries, partners from the international organization, (then Mann Judd Landau), as well as clients of the firm.
Not only did the firm grow in size, with government and private clientele, but also in stature as it became renowned in legal and accountancy fields for its expert handling and participation in many high profile international liquidations, winding up of companies and as a trustee in bankruptcies. Institutions such as Banco Ambrosiano and BCCI were not uncommon and with them came worldwide industry recognition for Clifford Culmer. In fact, work on a particularly high-profile case made history and set a new worldwide legal precedence in accountancy law.
The landmark decision referred to as, “in re Culmer”, resulted from the liquidation proceedings of the Banco Ambrosiano bankruptcy and set a worldwide precedence in liquidation proceedings. This decision is still referred to in global insolvencies today and established that the provisions of Bahamian law relating to liquidation proceedings are in substantial conformity with the laws of New York, and is the seminal authority for the recognition in the United States of Bahamian based insolvencies.
Clifford Culmer and Co, as the firm originated, became Mann Judd in early 1978, coinciding with the joining of Tony Heaford as a partner until his departure two years later. The firm’s first client was Charterhouse Bank and Trust International Limited. Mann Judd became associated internationally with Mann Judd Landau and later with HLB International when Mann Judd UK merged with Deloitte and Touche.
In 1995 the firm joined BDO international, which is currently the world’s fifth largest international organization of accountants and consultants. With approximately 600 offices in 100 countries, and over 22,500 strong work force, the BDO network affords its member firms international expertise that rivals that of any other professional services firm. BDO International is also a member of the Forum of Firms, a group consisting of the big four firms, plus BDO International and Grant Thornton, which aim for quality assurance in audit reports. The firms perform quality assurance reviews on each other in addition to the standard internal peer review system currently used.
BDO Mann Judd, based in Nassau, has clients that range from owner-managed enterprises to large multinational companies in both the public and private sectors across a wide array of industries. The firm has also developed a team of in house assurance/audit, consulting, corporate finance, forensic and liquidation experts and also provides accounting, business advisory, strategic planning and offshore services to clients worldwide.
Founder and senior partner Clifford Culmer believes that these varying degrees of expertise, position the firm to take advantage of the constantly shifting global market place.
Culmer was the first Bahamian to qualify as a member of the Institute of Chartered Accountants in England and Wales and is a founding member and past president of the Bahamas Institute of Chartered Accountants. Just recently, The Bahamas Financial Services Board awarded him, ‘Executive of The Year’ in their annual financial services industry recognition awards programme. Culmer, who is past Director of The Central Bank of the Bahamas, currently holds several directorships in a number of companies in varied industries. He is also past president of the Rotary Club of East Nassau where he received the Paul Harris Fellow Award.
