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Stream TV Networks Inc.: Chapter 11 Petition

February 25, 2021 - Chapter 11 Petition by Stream TV Networks Inc., which "was founded in 2009 as a "new media" company to pursue new technologies that enhance user entertainment and communications experiences", at the U. S. Bankruptcy Court for the District of Delaware. Creditors include those from Bermuda, Dubai, England, France, Germany, Guernsey, India, Ireland, Jersey, in the Channel Islands; Italy, Kuwait, Liechtenstein, Switzerland, and Taiwan.

Huy Vietnam Group Ltd.: Chapter 15 Petition

February 24, 2021 - Chapter 15 Petition for Recognition of a Foreign Main Proceeding in the Cayman Islands by Cosimo Borrelli and Mitchell Mansfield, as the Foreign Representatives of Huy Vietnam Group Limited (in Official Liquidation), whose Founder, Nhat Huy, "may have misappropriated approximately $59 million", at the U. S. Bankruptcy Court for the Southern District of New York.

TCA Global Credit Fund Ltd.: Chapter 15 Petition

February 16, 2021 - Chapter 15 Petition for Recognition of a Foreign Main Proceeding in the Cayman Islands by Eleanor Fisher and Tammy Fu, as the Foreign Representatives of TCA Global Credit Fund Ltd., at the U. S. Bankruptcy Court for the Southern District of Florida.

Comair Ltd.: Chapter 15 Petition

February 16, 2021 - Chapter 15 Petition for Recognition of a Foreign Main Proceeding in South Africa by Shaun Collyer and Richard A. Ferguson, as the Foreign Representatives of Comair Limited (in Business Rescue), described as "one of the largest regional commercial airline companies in Southern Africa", at the U. S. Bankruptcy Court for the Southern District of New York.

Cimento Tupi SA: Chapter 15 Petition

February 11, 2021 - Chapter 15 Petition for Recognition of a Foreign Main Proceeding in Brazil by Alberto Koranyi Ribeiro, as the Foreign Representative of Cimento Tupi S.A., which "has been producing cement and related products in Brazil and providing those products to the Brazilian market for more than 70 years", at the U. S. Bankruptcy Court for the Southern District of New York.

Seadrill Ltd. et al: Chapter 11 Petition

February 10, 2021 - Chapter 11 petitions by companies in Angola, Bermuda, Brazil, Canada, Hong Kong, Hungary, Liberia, Luxembourg, Malaysia, Mexico, Netherlands, Nigeria, Singapore, United Arab Emirates, United Kingdom, and the United States, specifically Seadrill Limited, Seadrill Limited, Asia Offshore Drilling Limited, Asia Offshore Rig 1 Limited, Asia Offshore Rig 2 Limited, Asia Offshore Rig 3 Limited, Eastern Drilling AS, North Atlantic Alpha Ltd., North Atlantic Elara Ltd., North Atlantic Epsilon Ltd., North Atlantic Linus Charterer Ltd., North Atlantic Navigator Ltd., North Atlantic Phoenix Ltd., North Atlantic Venture Ltd., Scorpion Courageous Ltd., Scorpion Deepwater B.V., Scorpion Deepwater Ltd., Scorpion Drilling Ltd., Scorpion Freedom Ltd., Scorpion International Ltd., Scorpion Nederlandse B.V., Scorpion Offshore Inc., Scorpion Resolute Ltd., Scorpion Rigs Ltd., Scorpion Servicos Offshore Ltda, Scorpion USA Expats, Inc., Scorpion Vigilant Ltd., SDS Drilling Ltd., Sea Dragon de Mexico S de R.L. de CV, Seadrill Abu Dhabi Operations Limited, Seadrill Americas, Inc., Seadrill Angola LDA, Seadrill Ariel Ltd., Seadrill Australia Pte Ltd., Seadrill Brunei Ltd., Seadrill Callisto Ltd., Seadrill Carina Ltd., Seadrill Castor Ltd., Seadrill Castor Pte Ltd., Seadrill Common Holdings Ltd., Seadrill Cressida Ltd., Seadrill Deepwater Charterer Ltd., Seadrill Deepwater Contracting Ltd., Seadrill Deepwater Crewing Ltd., Seadrill Deepwater Holdings Ltd., Seadrill Deepwater Units Pte Ltd., Seadrill Dione Ltd., Seadrill Eclipse Ltd., Seadrill Eminence Ltd., Seadrill Equatorial Guinea Ltd., Seadrill Europe Management AS, Seadrill Far East Limited, Seadrill Freedom Ltd., Seadrill GCC Operations Ltd., Seadrill Gemini Ltd., Seadrill Global Services Ltd., Seadrill Gulf Operations Neptune LLC, Seadrill Holdings Singapore Pte Ltd., Seadrill Hyperion Ltd., Seadrill Indonesia Ltd., Seadrill Insurance Ltd., Seadrill International Resourcing DMCC, Seadrill Investment Holding Company Limited, Seadrill Jack Up Holding Ltd., Seadrill Jack Up I B.V., Seadrill Jack Up II B.V., Seadrill Jack-Ups Contracting Ltd., Seadrill Jupiter Ltd., Seadrill Labuan Ltd., Seadrill Management (S) Pte Ltd., Seadrill Management AME Ltd., Seadrill Management Ltd., Seadrill Mimas Ltd., Seadrill Mira Hungary Kft., Seadrill Mira Ltd., Seadrill Neptune Hungary Kft., Seadrill Newfoundland Operations Ltd., Seadrill Nigeria Operations Limited, Seadrill North Atlantic Holdings Limited, Seadrill North Sea Crewing Ltd., Seadrill Norway Crew AS, Seadrill Norway Operations Ltd., Seadrill Offshore AS, Seadrill Offshore Malaysia Sdn. Bhd., Seadrill Offshore Nigeria Limited, Seadrill Operations de Mexico S de R.L. de CV, Seadrill Orion Ltd., Seadrill Pegasus (S) Pte Ltd., Seadrill Prospero Ltd., Seadrill Proteus Ltd., Seadrill Rhea Ltd., Seadrill Rig Holding Company Limited, Seadrill Saturn Ltd., Seadrill Saudi I B.V., Seadrill Saudi II B.V., Seadrill Servicos de Petroleos Ltda., Seadrill Sevan Holdings Limited, Seadrill Telesto Ltd., Seadrill Tellus Ltd., Seadrill Tethys Ltd., Seadrill Titan Ltd., Seadrill Titania Sarl, Seadrill Treasury UK Limited, Seadrill Triton Ltd., Seadrill Tucana Ltd., Seadrill UK Ltd., Seadrill UK Operations Ltd., Seadrill UK Support Services Ltd., Seadrill Umbriel Ltd., Sevan Brasil Ltd., Sevan Developer Ltd., Sevan Driller Ltd., Sevan Drilling Limited, Sevan Drilling North America LLC, Sevan Drilling Pte Ltd., Sevan Drilling Rig II AS, Sevan Drilling Rig II Pte Ltd., Sevan Drilling Rig IX Pte Ltd., Sevan Drilling Rig V Pte Ltd., Sevan Louisiana Hungary Kft., and Sevan Marine Servicos de Perfuracao Ltda at the U. S. Bankruptcy Court for the Southern District of Texas.

Novelion Therapeutics Inc.: Chapter 15 Petition

February 08, 2021 - Chapter 15 Petition for Recognition of a Foreign Main Proceeding in Canada by Anthony Tillman, of Alvarez & Marsal, as the Foreign Representative of Novelion Therapeutics Inc., which "formerly operated as a British Columbia biopharmaceutical business dedicated to developing and commercializing treatments and therapies for individuals living with rare diseases", at the U. S. Bankruptcy Court for the Southern District of New York.

M.A. Mobile Ltd.: Chapter 15 Petition

February 05, 2021 - Chapter 15 Petition for Recognition of a Foreign Main Proceeding in Dominica by Stanley DeFreitas, as the Foreign Representatives of M.A. Mobile Ltd., at the U. S. Bankruptcy Court for the Northern District of California.

Luckin Coffee Inc.: Chapter 15 Petition

February 05, 2021 - Chapter 15 Petition for Recognition of a Foreign Main Proceeding in the Cayman Islands by Alexander Lawson and Wing Sze Tiffany Wong, both of Alvarez & Marsal, as the Foreign Representatives of Luckin Coffee Inc., at the U. S. Bankruptcy Court for the Southern District of New York.

Purdue Pharma LP et al v. Chubb Bermuda et al: Complaint

January 29, 2021 - Complaint regarding insurance coverage for "the staggering costs of litigating an increasing number of claims seeking to hold them liable for their alleged role in creating and perpetuating the nationwide opioid crisis" in Purdue Pharma LP, Purdue Pharma Inc., Purdue Pharma Manufacturing LP, Purdue Pharmaceuticals LP, Purdue Transdermal Technologies LP, Purdue Pharmaceutical Products LP, Purdue Pharma of Puerto Rico, Rhodes Pharmaceuticals LP, Rhodes Technologies, and Avrio Health LP v. AIG Specialty Insurance Company (f/k/a American International Specialty Lines Insurance Company), Allied World Assurance Company, Ltd., American Guarantee and Liability Insurance Company, American International Reinsurance Company (f/k/a Starr Excess Liability Insurance International Limited), Arch Reinsurance Ltd., Aspen American Insurance Company, Certain Member Companies of the International Underwriting Association of London Subscribing to Policy No. 823/KE0002108, Chubb Bermuda Insurance Ltd. (f/k/a ACE Bermuda Insurance Ltd.), Evanston Insurance Company, Gulf Underwriters Insurance Company, HDI Global SE (f/k/a Gerling-Konzern General Insurance Company), Ironshore Specialty Insurance Company (f/k/a TIG Specialty Insurance Company), Liberty Insurance Corporation, Liberty Mutual Fire Insurance Company, Liberty Mutual Insurance Company, Liberty Mutual Insurance Europe SE (f/k/a Liberty International Insurance Company), National Union Fire Insurance Company of Pittsburgh, PA, Navigators Specialty Insurance Company, North American Elite Insurance Company, St. Paul Fire and Marine Insurance Company, Steadfast Insurance Company, Swiss Re International S.E. (f/k/a SR International Business Insurance Company also f/k/a Zurich Reinsurance (London) Limited, Tenecom Limited (f/k/a Winterthur Swiss Insurance Company), XL Bermuda Ltd. (f/k/a XL Insurance Company, Ltd.), and XL Insurance America, Inc. at the U. S. Bankruptcy Court for the Southern District of New York.

We hunt for red flags in high-value, cross-border finance by monitoring offshore and onshore courts, regulatory actions, offering documents, and other sources - and email you the results.

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Cayman Court Secrecy: A Huge Red Flag for Foreign Investors & Clients
David Marchant
As any fule kno, the biggest enemy of fraud, corruption, money laundering, and other forms of financial crime is transparency, while their best friend is secrecy. That's why the unprecedented mass sealing of cases that's taking place at the Financial Services Division of the Grand Court of the Cayman Islands is repugnant to anyone with a genuine concern for financial crime.