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

LIQUIDATIONS & INSOLVENCIES

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Thomas Cook Group Plc et al: Chapter 15 Petition

September 16, 2019 - Chapter 15 Petition for Recognition of a Foreign Main Proceeding in the United Kingdom by Dr. Peter Fankhauser, as the Foreign Representative of Thomas Cook Group Plc, Thomas Cook Group Treasury Limited, and Thomas Cook Finance 2 Plc, at the U. S. Bankruptcy Court for the Southern District of New York.

Charles Kharouf: Chapter 15 Petition

September 12, 2019 - Chapter 15 Petition for Recognition of a Foreign Main Proceeding in Canada by Olivier Boyd, of MNP Trustee Ltd., as the Foreign Representative of Charles Kharouf, of Montreal, Canada, at the U. S. Bankruptcy Court for the Western District of Texas.

Reward Science and Technology Industry Group Co. Ltd.: Chapter 15 Petition

September 09, 2019 - Chapter 15 Petition for Recognition of a Foreign Main Proceeding in China by Dr. Yin Zhengyou, as the Foreign Representative of Reward Science and Technology Industry Group Co. Ltd., at the U. S. Bankruptcy Court for the Southern District of New York.

OneTRADEx Ltd.: Public Notice of Provisional Liquidation

September 06, 2019 - Public Notice by the Cayman Islands Monetary Authority regarding OneTRADEx Ltd. being placed into provisional liquidation.

Kingate Euro Fund Ltd. et al: Chapter 15 Petition

September 05, 2019 - Chapter 15 Petition for Recognition of a Foreign Main Proceeding in the British Virgin Islands by Paul Pretlove and Tammy Fu, of Kalo (BVI) Limited and Kalo (Cayman) Limited, as the Foreign Representatives of Kingate Euro Fund Ltd. and Kingate Global Fund Ltd., at the U. S. Bankruptcy Court for the Southern District of New York.

Glenn Barry Holland v. BVI Registrar of Corporate Affairs: Restoration Application

August 30, 2019 - Fixed Date Claim Form regarding Kinetic Approach Group Ltd. in Glenn Barry Holland, of Dunstable, England v. The Registrar of Corporate Affairs at the British Virgin Islands High Court.

NY client sues offshore firms over failed Belvedere Management investments

August 30, 2019 - Thailand-based British financial adviser Paul Gambles and his MBMG Group, including firms in the BVI, Mauritius, Singapore, and Thailand, are being sued for $3.5M in Bermuda by a U.S. client whose cash was invested in funds managed by the Belvedere Management Group, whose fraudulent operations were exposed by OffshoreAlert in 2015.

British fraud firm Etaireia Investments goes into administration

August 29, 2019 - British firm Etaireia Investments Plc has gone into administration - four years after being exposed by OffshoreAlert for perpetrating a property-based investment fraud involving firms and individuals in the BVI, England, Gibraltar, Isle of Man, Scotland, Seychelles, and Spain.

Scandal-plagued Odebrecht Group applies for Chapter 15 recognition in New York

August 26, 2019 - Companies in the Bahamas, Cayman Islands and Brazil that belong to the insolvent conglomerate Odebrecht Group at the heart of a Brazilian bribery scandal have applied for Chapter 15 recognition at federal bankruptcy court in New York.

Odebrecht SA et al: Chapter 15 Petition

August 26, 2019 - Chapter 15 Petition for Recognition of a Foreign Main Proceeding in Brazil by Marcelo Rossini, as the Foreign Representative of Odebrecht S.A., of Brazil; Odebrecht Finance Limited, of the Cayman Islands; Odebrecht Participações e Investimentos S.A., of Brazil, and ODB International Corporation, of the Bahamas, 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.