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Daniel Feldman et al v. AS Roma SPV et al: Judgment

July 22, 2021 - Memorandum Opinion dismissing an investor complaint against the American owners of Italian soccer club AS Roma in Daniel Feldman, Jonathan Wyatt Gruber, John Charles Pope Revocable Trust, and Tierney Family Investors LLC v. AS Roma SPV GP LLC, James J. Pallotta, Richard A. D'Amore, The Ruane Irrevocable GST Trust of 2007, Shamrock Holdings of California Inc., and Raptor Holdco LLC at Delaware Chancery Court.

California Asphalt Production Inc. v. UBS AG et al: Summons With Notice

July 19, 2021 - Summons With Notice for $100 million alleging fraud in California Asphalt Production Inc. v. UBS AG, of Switzerlnd, and UBS AG, London Branch, of England, at the Supreme Court of the State of New York, County of New York.

2567423 Ontario Inc. et al v. MXY Holdings LLC et al: Complaint

July 19, 2021 - Complaint in 2567423 Ontario Inc., of Canada; Rayray Investments Inc., of Canada; KW Capital Partners Ltd., of Canada; K2 Principal Fund LP, of Canada; Anson East Master Fund LP, of the Cayman Islands; Anson Investments Master Fund LP, of the Cayman Islands; Barometer Equity Pool, Barometer Tactical Income Pool, Hadron Healthcare and Consumers Special Opportunities Fund, Parkwood Master Fund Ltd., of the Cayman Islands; Samara Fund Ltd., of Canada; Dani Warshager, Martin Fix, and Matthew Conduit v. MXY Holdings LLC, described as a Delaware-domiciled, California-based company that "manufactures and sells cannabis products under the brand name 'Moxie'"; Jordan Lams, and Kevin Marrone at the Superior Court of the State of California, County of Los Angeles.

Bavaguthu Shetty et al v. Bank of Baroda et al: Complaint

July 16, 2021 - Complaint for more than $7 billion "brought by two victims of Defendants' massive financial fraud surrounding NMC Health Plc and its related entities" that was "exposed when an investigative market research firm, Muddy Waters Research LLC, released a report questioning the integrity of NMC's audited financials" in Dr. Bavaguthu Raghuram Shetty and Neopharma LLC v. Bank of Baroda, of New York; Credit Europe Bank NV, of the Netherlands; Ernst & Young Global Limited, of England; Ernst & Young EMEIA Limited, of England; Prasanth Manghat, Promoth Manghat, Suresh Kumar Vadakke Kootala, and Suresh Kumar Nandiraju, all of India, at the Supreme Court of the State of New York, County of New York.

Daniel Ocampo v. Dfinity Stiftung et al: Class Action Complaint

July 15, 2021 - Class Action Complaint "on behalf of all investors who purchased Internet Computer Project tokens" alleging that the defendants "sold unregistered securities to investors in violation of the Securities Act" in Daniel Ocampo v. Dfinity USA Research LLC, of Delaware; Dfinity Stiftung, of Switzerland; Andreessen Horowitz, described as Menlo Park, California-based "private venture capital firm"; Polychain Capital, described as a San Francisco-based "cryptocurrency investment firm managing portfolios of digital assets", and Dominic Williams at the Superior Court of the State of California.

Alto Opportunity Master Fund SPC v. Reebonz Holdings Ltd.: Judgment

July 14, 2021 - Judgment for $4.8 million in Alto Opportunity Master Fund, SPC-Segregated Master Portfolio B, of the Cayman Islands v. Reebonz Holdings Limited, a Cayman Islands company based in Singapore, at the Supreme Court of the State of New York, County of New York. Editor's Note: Research by OffshoreAlert at the Cayman Islands General Registry showed that the directors of Reebonz Holding Limited, which appears to be the correct name for the company identified throughout the litigation, even in contracts signed by its own representatives, as "Reebonz Holdings Limited", were identified as Arthur Chua, Charles Goh, Roderick Perry, and Samuel Lim Kok Eng.

Emirates NBD Bank PJSC v. Fal Oil Company Ltd. et al: Motion for Default Judgment

July 12, 2021 - Notice of Motion for Default Judgment regarding a complaint for AED 282 million in Emirates NBD Bank PJSC, of Dubai, in the United Arab Emirates v. Fal Oil Company Ltd., Fal Energy Company Ltd., Fal Shipping Company Ltd., Fal Marine Services Company LLC, Investment Group Private Ltd., Abdulla Juma Al Sari, Mohamed Abdulla Al Sari, and Majid Abdulla Al Sari, all of Dubai, in the United Arab Emirates, at the Supreme Court of the State of New York, County of New York.

Gustavo Lopez v. Uulala Inc.: Judgment

July 12, 2021 - Judgment for $700,000, plus interest, in Gustavo Lopez v. Uulala Inc. at the Superior Court of the State of California, County of Los Angeles. Editor's Note: The Uulala Group became the first applicant to be approved for an Initial Coin Offering in Bermuda in October, 2018, with Bermuda's Premier, David Burt, recording a video for the group that it used for promotional purposes on its website. Uulala was exposed by OffshoreAlert in January, 2019.

Mark Dyne et al v. Janus Friis: Complaint

July 02, 2021 - Complaint alleging conspiracy involving a company called Wire, described as a "secure collaboration platform" founded by the defendant that was "close to complete collapse" before the individual plaintiffs "stepped in to save Wire by putting together a rescue package and risking and investing their own funds" in Mark Dyne, Murray Markiles, Joseph Miller, Morpheus Partners Holdings GP I LLC, of Delaware; Morpheus Partners Holdings I GP, LP, of Delaware; ECA Iconical Carry LP, of the Cayman Islands, and ECA Iconical Carry GP Ltd., of the Cayman Islands v. Janus Friis, described as "a Danish entrepreneur who resides in London, United Kingdom", at the Superior Court of the State of California, for the County of Los Angeles.

Roger Head v. Vector Acquisition Corporation et al: Complaint

July 01, 2021 - Complaint alleging breach of fiduciary duty in Roger Head v. Vector Acquisition Corporation, described as a Cayman Islands company based in San Francisco whose shares are listed on NASDAQ; Alex Slusky, John Herr, and David Kennedy at the Superior Court of California, San Francisco County.

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.