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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.

LITIGATION FUNDING

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Fraud charges brought against three Axiom Legal Financing Fund insiders

August 21, 2020 - Three UK nationals - Timothy Schools, Richard Emmett, and David Kennedy - have been criminally charged with fraud over their involvement with Cayman Islands-domiciled Axiom Legal Financing Fund, whose £100 million litigation funding-based investment scam collapsed after being exposed by OffshoreAlert eight years ago.

Novoship (UK) Ltd. v. Harry Sergeant, Jr. et al: Discovery Application

April 30, 2020 - Ex Parte Application by Novoship (UK) Limited to take discovery from Harry Sargeant Jr., Harry Sargeant III, Daniel Sargeant, James Sargeant, Sargeant Marine Inc., International Oil Trading Company LLC, and Berger Singerman LLP for use in legal proceedings in England filed against Novoship (UK) Limited and others by Maroil Trading Inc. and Sea Pioneer Shipping Corporation, described as "entities beneficially owned and controlled by Venezuelan businessman Wilmer Ruperti", against Novoship (UK) Limited, Cally Shipholdings Inc., Vital Shipping Corporation, Dainford Navigation Inc., Tamara Shipholdings SA, and Tuscany Maritime SA, and by those defendants against Burford Capital (UK) Limited and Daniel Hall, filed at the U. S. District Court for the Southern District of Florida.

Steven Goodman v. DMS Governance Ltd.: Appeal Judgment

April 27, 2020 - Judgment regarding an appeal against a lower court's dismissal of a claim against a Cayman Islands-based corporate services provider regarding Axiom Legal Financing Fund, described as having committed "a very substantial fraud in which over US$ 120 million ... was misappropriated by Tim Schools", in Steven Goodman, a lawyer specializing in litigation funding v. DMS Governance Limited at the Court of Appeal of the Cayman Islands.

Stephen Merz v. Burford Capital (UK) Ltd. et al: Amended Class Action Complaint

November 20, 2019 - Amended Class Action Complaint for alleged securities fraud in Stephen Merz v. Burford Capital (UK) Limited, a litigation funding company domiciled in Guernsey, based in England; Peter Middleton, Burford's Chairman during the Class Period; Christopher Bogart, Burford's CEO; Jonathan Molot, Burford's Chief Investment Officer, and Charles Parkinson, a Burford Director, at the U. S. District Court for the Eastern District of New York.

Burford Capital Ltd. v. London Stock Exchange Group Plc: Claim Form

September 30, 2019 - Claim Form seeking information about suspected share price manipulation in Burford Capital Limited, of Guernsey, in the Channel Islands v. London Stock Exchange Group Plc, of England, at the High Court of Justice of England and Wales.

CIGNA Worldwide Insurance Co. v. Garrett Kelleher: Notice of Settlement

September 30, 2019 - Notice of Settlement Agreement in CIGNA Worldwide Insurance Co. v. Garrett Kelleher, an Irish litigation funder, at the U. S. District Court for the Eastern District of Pennsylvania.

CIGNA Worldwide Insurance Co. v. Garrett Kelleher: Settlement in Principle

September 27, 2019 - Letter regarding the 'finalization of a settlement agreement' in CIGNA Worldwide Insurance Co. v. Garrett Kelleher, an Irish litigation funder, at the U. S, District Court for the District of Eastern Pennsylvania.

Stephen Merz v. Burford Capital Ltd. et al: Class Action Complaint

August 21, 2019 - Class Action Complaint for alleged securities fraud in Stephen Merz v. Burford Capital Limited, a litigation funding company domiciled in Guernsey, based in England; Peter Middleton, Burford's Chairman during the Class Period; Christopher Bogart, Burford's CEO; Jonathan Molot, Burford's Chief Investment Officer, and Charles Parkinson, a Burford Director,  at the U. S. District Court for the Eastern District of New York.

Daniel Hall et al v. Harry Sargeant III: Plaintiffs' Motion for Partial Summary Judgment

August 20, 2019 - Plaintiffs' Motion for Partial Summary Judgment in Daniel Hall, of England; Burford Capital LLC, of Delaware, and Dundrod Investments Ltd., of Guernsey v. Harry Sargeant III at the U. S. District Court for the Southern District of Florida.

Daniel Hall et al v. Harry Sargeant III: Defendant's Motion for Summary Judgment

August 19, 2019 - Defendant's Motion for Summary Judgment in Daniel Hall, of England; Burford Capital LLC, of Delaware, and Dundrod Investments Ltd., of Guernsey v. Harry Sargeant III at the U. S. District Court for the Southern District of Florida.
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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.