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VL Assurance (Bermuda) Ltd. et al: Chapter 15 Petition

April 12, 2021 - Chapter 15 Petition for Recognition of a Foreign Main Proceeding in Bermuda by Michael Morrison and Mark Allitt, of KPMG Advisory, as the Foreign Representatives of VL Assurance (Bermuda) Ltd., Valor Group Ltd., and Valor Management Ltd., described as Bermuda companies that are part of a group that also includes companies in Barbados, Ireland, Liechtenstein, and the United States and which are "victims of activity perpetrated between 2013 and 2016 by Jason Sugarman - a former director of the VL Bermuda Debtor - and others, including Jason Galanis, that ultimately led to the insolvency of the VL Bermuda Debtors", filed at the U. S. Bankruptcy Court for the Southern District of New York.

Cosmo Import & Export LLC et al v. Reliant Group & Casualty Insurance ICC Ltd. et al: Complaint

April 08, 2021 - Complaint alleging fraud in Cosmo Import & Export LLC and Outdoor Living Inc., both of Wyoming v. Reliant Group & Casualty Insurance ICC Ltd., formerly Bancroft Life & Casualty Ltd., of Saint Lucia, and Neal Rubin, of Orange County, California, at the U. S. District Court for the Central District of California.

Beazley Underwriting Ltd. v. Fitness International LLC: Complaint

April 06, 2021 - Complaint "for a determination concerning whether Fitness International is entitled to business income coverage and/or coverage for property damage for its claimed COVID-19 losses and/or the extent to which payment may be owed" in Beazley Underwriting Ltd., of England v. Fitness International LLC at the U. S. District Court for the Central District of California.

PB Investment Holdings Ltd.: Chapter 15 Petition

April 02, 2021 - Chapter 15 Petition for Recognition of a Foreign Main Proceeding in Bermuda by Rachelle Frisby and John Johnston, both of Deloitte (Bermuda), as the Foreign Representatives of PB Investment Holdings Ltd., whose owner Greg Lindberg was convicted of "conspiracy to commit honest services wire fraud and bribery concerning programs receiving federal funds" last year in the United States, at the U. S. Bankruptcy Court for the Southern District of New York.

Christopher Shaw: Disqualification

March 31, 2021 - Prohibition Order by the Guernsey Financial Services Commission against Christopher Henry Shaw, of Glentrool Forest, South Ayrshire, Scotland.

John Robilliard: Disqualification

March 31, 2021 - Prohibition Order by the Guernsey Financial Services Commission against John Adam Robilliard, of St Martin, Guernsey.

Star Insurance Company (Cayman) Ltd.: Directors

March 28, 2021 - Director Details for Star Insurance Company (Cayman) Limited, obtained from the Cayman Islands General Registry on March 28th, 2021.

Zenith Finance Ltd. et al: Public Notice

March 26, 2021 - Public Notice by the Malta Financial Services Authority that it was taken action against Zenith Finance Limited and Zenith (Tied Insurance Intermediary) Limited.

Zenith (Tied Insurance Intermediary) Ltd.: Directives

March 26, 2021 - Public Notice by the Malta Financial Services Authority that it has imposed directives on Zenith (Tied Insurance Intermediary) Limited, including an order that it must accept no new clients, and appointed Stephen Paris as its manager due to regulatory breaches. Editor's Note: Research by OffshoreAlert at the Malta Business Registry showed that Zenith (Tied Insurance Intermediary) Limited was incorporated in Malta on August 6th, 2018, its directors are Lorraine Falzon and Albert Grech, both citizens of Malta; a former director is Matthew Pace, a citizen of Malta, who resigned effective March 8th, 2021, and its shareholders are Matthew Pace and Lorraine Falzon, and its auditor, Nexia BT, resigned effective November 16th, 2020.

Star Insurance Company (Cayman) Ltd.: CI$72K Fine

March 25, 2021 - Public Notice by the Cayman Islands Monetary Authority that it was imposed a fine of CI$72,800 on Star Insurance Company (Cayman) Ltd. for regulatory breaches. Editor's Note: Research by OffshoreAlert in the Cayman Islands General Registry showed that the directors of Star Insurance Company (Cayman) Ltd. are identified as Barry Benjamin, Bohdan Petro Martiuk. and Lawrence Chastang.

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.