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Daily news, documents and intelligence about Offshore Financial Centers and those who conduct business in them that you will not find anywhere else.

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Piraeus Bank SA v. NASDAQ et al: Discovery Application

September 23, 2020 - Application by Piraeus Bank SA, of Greece, to take discovery from The NASDAQ Stock Market LLC and OTC Markets Group for use in "an anticipated foreign judicial proceeding that will be commenced by Piraeus against Newlead Holdings, Ltd. [of Bermuda] before the High Court of Justice, Business and Property Courts of England and Wales, Commercial Court pursuant to a Guarantee and Indemnity agreement", filed at the U. S. District Court for the Southern District of New York.

Commercial Bank of Dubai v. CB Title Management Corp.: Discovery Application

September 21, 2020 - Application by Commercial Bank of Dubai to take discovery from CB Title Management Corp. for use in contemplated legal proceedings in Dubai regarding the alleged default of a AED 37.5 million loan to Chalmers Engineering Company LLC, of Dubai, and "a personal guarantee from Stuart Allan Macdonald Chalmers, a UK national and Dubai, UAE resident", filed at the U.S. District Court for the District of New Jersey.

Tatiana Akhmedova v. Google LLC: Discovery Application

September 16, 2020 - Application by Tatiana Akhmedova to take discovery from Google LLC for use in legal proceedings in England involving, inter alia, her husband, Farkhad Akhmedov, a Russian businessman; their son, Temur Akhmedov, and "Liechtenstein trustee entities Counselor Trust Reg and Sobaldo Establishment" regarding judgment collection and alleged "fraudulent evasion", filed at the U. S. District Court for the Northern District of California.

Commercial Bank of Dubai v. American Express Inc.: Discovery Application

September 15, 2020 - Application by Commercial Bank of Dubai to take discovery from American Express Inc. for use in contemplated legal proceedings in Dubai regarding the alleged default of a AED 37.5 million loan to Chalmers Engineering Company LLC, of Dubai, and "a personal guarantee from Stuart Allan Macdonald Chalmers, a UK national and Dubai, UAE resident", filed at the U.S. District Court for the Southern District of New York.

CBRE Global Investors (NL) BV et al v. HBC US Holdings LLC et al: Discovery Application

September 04, 2020 - Application alleging "HBC secretly siphoned away what appears to be billions of dollars of assets by transferring its entire United States operations to a newly-formed Bermuda parent company, under the guise of an internal restructuring thereby removing those assets from the reach of HBC's creditors, including CBRE" by CBRE Global Investors (NL) B.V., CBRE DRET Custodian I B.V., CBRE DHC Maastricht (Grote Staat V) B.V., and CBRE DHC Den Haag (Grote Markstraat V) B.V. to take discovery from HBC US Holdings LLC and its General Counsel, David Schwartz, for use in "a civil action in The Netherlands against Hudson's Bay Company ULC, a Canadian company formerly known as Hudson's Bay Company, who through its affiliates owns and operates department stores, including Saks Fifth Avenue, throughout the United States, Canada and Europe", filed at the U. S. District Court for the Southern District of New York.

ENRC v. HarperCollins Publishers LLC: Discovery Application

September 02, 2020 - Ex Parte Application by Eurasian Natural Resources Corporation Limited, of the United Kingdom, to take discovery from HarperCollins Publishers LLC, of New York, for use in contemplated proceedings in England regarding a book entitled "Kleptopia: How Dirty Money Is Conquering the World" by "a British writer named Tom Burgis" that "is scheduled to be published in the United States on September 8, 2020" and which contains "privileged and confidential information that ENRC has reason to believe was unlawfully obtained in a multi-year conspiracy to leak and sell such information on the black market to ENRC's rivals and competitors", filed at the U. S. District Court for the Southern District of New York.

Axion Holding Cyprus Ltd. v. OEP Capital Advisors GP LLC et al: Discovery Application

August 27, 2020 - Application by Axion Holding Cyprus Limited, of Cyprus, to take discovery from OEP Capital Advisors, L.P., OEP Capital Advisors GP, LLC, and OEP Capital Advisors LLC for use in "two London-seated arbitrations", filed at the U. S. District Court for the District of Delaware.

Salt Mobile SA v. Liberty Global Inc. et al: Discovery Application

August 26, 2020 - Application by Salt Mobile SA to take discovery from Liberty Global Inc., Liberty Media Corporation, John Malone, and Michael Fries "for use in contemplated civil proceedings in Switzerland" regarding an alleged "breach of an exclusivity agreement between Petitioner and Sunrise Communications AG related to a proposed joint venture to provide enhanced fiber broadband communications services in Switzerland at a time when millions are working from home and depend on reliable communications to preserve their livelihoods and promote a functioning economy", filed at the U. S. District Court for the District of Colorado.

Br-Island Responsible Development Ltd. v. Michael Wiener: Discovery Application

August 25, 2020 - Application by Br-Island Responsible Development, Ltd., of the Bahamas, to take discovery from Michael Wiener, described as a resident of Los Angeles County, California, regarding suspected "malfeasance or corruption" for use in a contemplated legal proceeding in the Bahamas involving 4M Harbour Island Ltd., filed at the U. S. District Court for the Central District of California.

Telehealth Products Corporation Ltd. v. Kinsman Enterprises Inc.: Discovery Application

August 24, 2020 - Application by Telehealth Products Corporation Ltd., of Hong Kong, to take discovery from Kinsman Enterprises Inc. for use in legal proceedings in China, filed at the U. S. District Court for the Southern District of Illinois.

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.