The tussle over the assets of the companies linked to Sir Allen Stanford took another turn this week as the receiver appointed by Antigua sought formally to challenge the jurisdiction of his US counterpart.

Antigua and the US have appointed separate receivers to administer the affairs of the Stanford group of companies, which have operations across the US, Latin America and the Caribbean. Stanford International Bank, which is at the heart of an alleged $8bn Ponzi scheme, is based in Antigua.