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Transform Holdco LLC v. Zurich American Insurance Company et al: Petition

April 28, 2021 - Petition for Declaratory Judgment in Transform Holdco LLC v. Zurich American Insurance Company, ACE American Insurance Company, Allied World Assurance Company, Ltd., of Bermuda; Lloyd’s Syndicate No. 318 MSP, of England; Westport Insurance Corporation, Lloyd’s Syndicate No. 1414, of England; Tokio Marine America Insurance Company, Ironshore Specialty Insurance Company, Sompo International Holdings, Ltd., of Bermuda; American International Group UK Limited, of England; Neon Syndicate 2468, of Bermuda; Hamilton Re, Ltd., of Bermuda; Starr Surplus Lines Insurance Company, Canopius Insurance Services, Lloyd’s Insurance Company (China) Limited, of China, and Aon Risk Services Central, Inc. at the District Court for the 162nd District, Dallas County, Texas.

Tatiana Akhmedova v. Farkhad Akhmedov et al: Judgment

April 21, 2021 - Judgment for hundreds of millions of dollars in favor of a "wife" who "has been the victim of a series of schemes designed to put every penny of the Husband's wealth beyond her reach" involving individuals, companies, and structures in Bermuda, Cyprus, Dubai, England, France, Isle of Man, Liechtenstein, Luxembourg, Panama, Russia, and Switzerland in Tatiana Akhmedova v. Farkhad Teimur Ogly Akhmedov, a citizen of Russia; Woodblade Limited, of Cyprus; Cotor Investment SA, of Panama; Qubo 1 Establishment, of Liechtenstein; Qubo 2 Establishment, of Liechtenstein; Straight Establishment, of Liechtenstein; Avenger Assets Corporation, of Panama; Counselor Trust Reg, of Liechtenstein, as Trustee of certain Trusts; Sobaldo Establishment, of Liechtenstein, as Trustee of certain Trusts; Temur Akhmedov, described as "a British citizen who lives in London", and Borderedge Limited, of Cyprus, at the High Court of Justice, for England and Wales.

Greins Global Ltd.: Winding Up Notice

April 20, 2021 - Public Notice by the Bermuda Monetary Authority that it "successfully petitioned the Supreme Court of Bermuda to wind up Greins Global Ltd.", which was described as "a Class 1 insurer". Editor's Note: The Directors Register section of the Government of Bermuda's website identified the sole director of Greins Global Limited as Randeep S. Grewal, of Hong Kong.

Erin Murray v. AET Inc. Ltd. et al: Complaint

April 16, 2021 - Complaint in Erin F. Murray, as Executrix and Personal Representative of the Estate of Timothy M. Murray v. AET Inc. Ltd., of Bermuda, and MV Eagle Turin, described as a "Singapore flagged crude oil tank vessel", at the U. S. District Court for the Southern District of New York.

Michael Woodroffe v. Pamela Woodroffe: Judgment

April 12, 2021 - Judgment regarding "the ability to enforce arrears of maintenance" arising from divorce proceedings in Michael Woodroffe, who is president of Kirkway International Ltd., a Bermuda insurance broker v. Pamela Woodroffe (née Collins) at Bermuda Court of Appeal.

Automotores Gildemeister SpA et al: Chapter 11 Petition

April 12, 2021 - Chapter 11 Petition by Automotores Gildemeister SpA, Marc Leasing S.A., Comercial Gildemeister S.A., Maquinarias Gildemeister S.A., Fortaleza S.A., RTC S.A., Maquinaria Nacional S.A., Carmeister S.A., AG Créditos SpA, Fonedar S.A., all of Chile; Lodinem S.A., Camur S.A., both of Uruguay, and Bramont Montadora Industrial e Comercial de Veículos S.A., of Brazil, collectively described as "a vehicle importer and distributor primarily operating in Chile and Peru, as well as in Uruguay, Costa Rica and Brazil", at the U. S. Bankruptcy Court for the Southern District of New York.

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.

Winston Wen-Young Wong v. Formosa Plastics Corporation, U.S.A.: Discovery Application

April 08, 2021 - Application by Winston Wen-Young Wong, of Taiwan, as administrator of the Estate of Yung-Ching Wang, to take discovery from Formosa Plastics Corporation, U.S.A. for use in legal proceedings in Bermuda involving "billions of dollars in assets" and styled as "Wen-Young Wong v. Grand View Private Trust Company Limited, et al", filed at the U. S. District Court for the District of New Jersey.

The Liverpool LP v. JPMorgan Chase & Co.: Discovery Application (April 8, 2021)

April 08, 2021 - Application by The Liverpool Limited Partnership, of Bermuda, to take discovery from JPMorgan Chase & Co. for use in a foreign "appraisal proceeding", filed at the U. S. District Court for the Southern District of New York.

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.

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.