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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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Dooga Ltd.: Chapter 15 Petition

February 14, 2020 - Chapter 15 Petition for Recognition of a Foreign Main Proceeding in England by Steven Parker and Trevor Binyon, of Opus Restructuring, as the Foreign Representatives of Dooga Ltd., a Maltese-owned British firm whose "Cubits" cryptocurrency exchange closed down in 2018 following an alleged €27 million fraud involving "payment processor" Pay Secure Online Limited, d.b.a. Paysec, and "three Chinese nationals called Lui Caifeng, Liu Lin, and Yajuan She", at the U. S. Bankruptcy Court for the Northern District of California. Editor's Note: Research by OffshoreAlert showed that, in the Malta Business Registry, the owner of Pay Secure Online Limited is identified as David Murphy, a British national with an address in Thailand, while directors have included Richard John Barry, a British national residing in Dubai, and Dimitar Stefanov Georgiev, a citizen and resident of Bulgaria, who both resigned on March 2nd, 2018, and the auditor is Antoine Borg, of Malta. On May 15th, 2019, the Malta Financial Services Authority issued a "warning" that Paysec "is NOT licenced NOR authorised by the MFSA to provide any investment or other financial services which are required to be licenced or otherwise authorised under Maltese law".

The McClatchy Company et al: Chapter 11 Bankruptcy Petition

February 13, 2020 - Chapter 11 Petition by The McClatchy Company, Cypress Media, Inc., Aboard Publishing, Inc., Bellingham Herald Publishing, LLC, Belton Publishing Company, Inc., Biscayne Bay Publishing, Inc., Cass County Publishing Company, Columbus-Ledger Enquirer, Inc., Cypress Media, LLC, East Coast Newspapers, Inc., El Dorado Newspapers, Gulf Publishing Company, Inc., Herald Custom Publishing of Mexico, S. de R.L. de C.V., HLB Newspapers, Inc., Idaho Statesman Publishing, LLC, Keltatim Publishing Company, Inc., Keynoter Publishing Company, Inc., Lee's Summit Journal, Incorporated, Lexington H-L Services, Inc., Macon Telegraph Publishing Company, Mail Advertising Corporation, McClatchy Big Valley, Inc., McClatchy Interactive LLC, McClatchy Interactive West, McClatchy International Inc., McClatchy Investment Company, McClatchy Management Services, Inc., McClatchy Newspapers, Inc, McClatchy News Services, Inc., McClatchy Property, Inc., McClatchy Resources, Inc, McClatchy Shared Services, Inc., McClatchy U.S.A., Inc., Miami Herald Media Company, N & O Holdings, Inc., Newsprint Ventures, Inc., Nittany Printing and Publishing Company, Nor-Tex Publishing, Inc., Olympian Publishing, LLC, Olympic-Cascade Publishing, Inc., Pacific Northwest Publishing Company, Inc., Quad County Publishing, Inc., Quad County Publishing, Inc., San Luis Obispo Tribune, LLC, Star-Telegram, Inc., Tacoma News, Inc., The Bradenton Herald, Inc., The Charlotte Observer Publishing Company, The News and Observer Publishing Company, The State Media Company, The Sun Publishing Company, Inc., Tribune Newsprint Company, Tru Measure, LLC, Wichita Eagle and Beacon Publishing Company, Inc., and Wingate Paper Company at the U. S. Bankruptcy Court for the Southern District of New York.

Robert Seiden v. Link Motion Inc.: Order

February 04, 2020 - Order Recognizing U.S. Order Appointing Temporary Receiver in Robert Seiden, of the United States, as Temporary Receiver of Link Motion Inc. v. Link Motion Inc., a Cayman Islands firm based in China, at the Grand Court of the Cayman Islands.

Robert Seiden v. Link Motion Inc.: Ruling

February 04, 2020 - Ruling in Robert Seiden, of the United States, as Temporary Receiver of Link Motion Inc. v. Link Motion Inc., a Cayman Islands firm based in China, at the Grand Court of the Cayman Islands.

Thomas Mahon: Chapter 15 Petition

February 04, 2020 - Chapter 15 Petition for Recognition of a Foreign Main Proceeding in England by Tom Straw, of MoorFields Advisory Ltd., and Stephen R. Penn, of Absolute Recovery Ltd., as the Foreign Representatives of Thomas Michael Mahon, who has been accused of defrauding White Winston Select Asset Funds LLC, at the U. S. Bankruptcy Court for the District of Massachusetts.

Cosimo Borrelli et al v. Marine Online Holdings Ltd.: Originating Summons

January 31, 2020 - Originating Summons for Recognition of a Foreign Bankruptcy in Cosimo Borrelli and Jacqueline, as Trustees of the property of Sit Kwong Lam, a Bankrupt, of Hong Kong v. Marine Online Holdings Limited at the Grand Court of the Cayman Islands.

Ardent Harmony Fund Inc. et al v. Nancy Marie Barrick: Complaint

January 24, 2020 - Complaint in Ardent Harmony Fund Inc. (in Liquidation) and Argyle Funds SPC Inc. (in Liquidation), both of the Cayman Islands v. Nancy Marie Barrick, of Lloyd Harbor, NY, at the U. S. Bankruptcy Court for the Eastern District of New York.

Karan Abbott v. BVI Registrar of Corporate Affairs: Restoration Application

January 24, 2020 - Fixed Date Claim Form regarding Hammersford Limited in Karan Abbott, of England v. The Registrar of Corporate Affairs at the British Virgin Islands High Court.

Seabras 1 USA LLC et al v. Seabras Group LLC et al: Complaint

January 24, 2020 - Complaint in Seabras 1 USA LLC, of Delaware, and Seabras 1 Bermuda Ltd., of Bermuda v. Seabras Group LLC, Partners Group Seabras, LLC, and Partners Group Seabras Holding, LLC, all of Delaware, at the U. S. Bankruptcy Court for the Southern District of New York.

Michael Gregson v. Meribelle Investments Ltd. et al: Restoration Application

January 23, 2020 - Originating Application in Michael James Gregson, as liquidator of Meribelle Investments Ltd., which is in liquidation in England and Wales v. Meribelle Investments Limited and The Registrar of Corporate Affairs at the British Virgin Islands High Court..

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.