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Union Bank of India (UK) Ltd. v. Wells Fargo Bank NA: Discovery Application

January 07, 2021 - Application by Union Bank of India (UK) Ltd., of England, to take discovery from Wells Fargo Bank N.A. for use in legal proceedings in England and Wales against Badrinarayanan Kothandaraman, a.k.a. Badri Kasturi, described as a citizen of India, and Satyan Katsuri, described as "an Australian citizen and an Overseas Citizen of India", for "fraud and liability under personal guarantees" totaling $6 million involving EnviroMax Pellets Inc., of Delaware, filed at the U. S. District Court for the Southern District of New York.

Food Delivery Holding 12 Sarl v. DeWitty and Associates CHTD: Discovery Application

January 06, 2021 - Application by Food Delivery Holding 12 Sarl, of Luxembourg, to take discovery from DeWitty and Associates CHTD "for use in an international arbitration brought by Mr. Ebrahim Al-Jassim against FDH (and two other respondents) pursuant to the arbitration rules of the Dubai International Finance Centre-London Court of International Arbitration", filed at the U. S. District Court for the District of Columbia.

Zim Integrated Shipping Services Ltd. v. M/V Seroja Lima: Amended Discovery Application

January 04, 2021 - Amended Ex Parte Emergency Application by Zim Integrated Shipping Services Ltd. to take discovery from the Master of the M/V Seroja Lima, described as being flagged in Panama and owned by "Leo Ocean/Tokei Kaiun which were and are business entities organized and existing under the laws of Panama and Japan respectively", for use in "foreign and international legal proceedings soon to be commenced against and also by Zim", filed at the U. S. District Court for the Southern District of Florida.

Stanford International Bank v. Richard Closs et al: Discovery Application

December 23, 2020 - Application by Hugh Dickson and Mark McDonald, as Joint Liquidators of Stanford International Bank Limited, of Antigua and Barbuda, to take discovery from Richard Closs and John Ward, described as former and current, respectively, employees of Pershing LLC, both residing in New Jersey, for use in legal proceedings in Canada "against TD Bank for negligence, breach of contract, and knowing assistance" regarding a "Ponzi scheme orchestrated by Robert Allen Stanford and his affiliates", filed at the U. S. District Court for the District of New Jersey.

Frederick Warren v. Seadrill Americas Inc.: Discovery Application

December 22, 2020 - Application by Frederick Warren to take discovery from Seadrill Americas Inc. for use in an arbitration that Frederick Warren and "26 other U.S. shareholders of Integradora de Servicios Petroleros Oro Negro, S.A.P.I. de C.V., a Mexican oil-service company, initiated in June 2018 under the North American Free Trade Agreement against the United Mexican States for destroying the value of their investment in Oro Negro in violation of its NAFTA obligation", filed at the U. S. District Court for the Southern District of Texas.

Stanford International Bank v. Michael Raffa: Discovery Application

December 22, 2020 - Application by Hugh Dickson and Mark McDonald, as Joint Liquidators of Stanford International Bank Limited, of Antigua and Barbuda, to take discovery from Michael Rafa, described as a former employee of Toronto-Dominion Bank, residing in Massachusetts, for use in legal proceedings in Canada "against TD Bank for negligence, breach of contract, and knowing assistance" regarding a "Ponzi scheme orchestrated by Robert Allen Stanford and his affiliates", filed at the U. S. District Court for the District of Massachusetts.

Stanford International Bank v. Joel Landis: Discovery Application

December 22, 2020 - Application by Hugh Dickson and Mark McDonald, as Joint Liquidators of Stanford International Bank Limited, of Antigua and Barbuda, to take discovery from Joel Landis, a former employee of JPMorgan Chase, residing in Houston, Texas, for use in legal proceedings in Canada "against TD Bank for negligence, breach of contract, and knowing assistance" regarding a "Ponzi scheme orchestrated by Robert Allen Stanford and his affiliates", filed at the U. S. District Court for the Southern District of Texas.

Deposito Centralizado de Compensacion y Liquidacion de Valores Decevale, SA v. Ecuador High Yield Bond Fund LLC et al: Discovery Application

December 22, 2020 - Application by Deposito Centralizado de Compensacion y Liquidacion de Valores Decevale, S.A. to take discovery from Ecuador High Yield Bond Fund LLC, Argonaut FL LLC, Penderton Management LLC, Jorge Cherrez Miño, Lafise Securities Corporation, IBCorp Asset Management Inc., ICS Institutional Custody Services LLC, and Citigroup Inc. "for use in reasonably contemplated civil and/or criminal proceedings in Ecuador to be filed against Mr. Luis Alvarez Villamar, Decevale's former Operations Manager, for fraud, breach of fiduciary duties, and/or indemnification", filed at the U. S. District Court for the Southern District of Florida.

First Monolith Inc. v. Citibank N.A. et al: Discovery Application

December 09, 2020 - Application by First Monolith Inc. to take discovery from Citibank N.A., The Bank of New York Mellon, Société Générale, New York, HSBC Bank USA, N.A., BNP Paribas USA, JPMorgan Chase Bank, N.A., Barclays Bank PLC, Deutsche Bank Trust Co. Americas, Bank of Nova Scotia, UBS AG, Bank of America, N.A., Standard Chartered Bank US, Commerzbank AG US and The Clearing House Payments Company, LLC for use in a "contemplated proceeding" in Singapore "against Canwell Commerce Pte. Ltd." for suspected fraud, filed at the U. S. District Court for the Southern District of New York.

Inmobiliaria Tova SA et al v. Revlon Consumer Products Corp.: Discovery Application (December 2020)

December 07, 2020 - Application by Inmobiliaria Tova, S.A. and Mini Depositos Denpar to take discovery from Revlon Consumer Products Corporation for use in "a contemplated civil proceeding" in Venezuela against Revlon Overseas Corporation C.A., filed at the U. S. District Court for the Southern District of Florida.

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.