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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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Steven Monosson et al v. Teekay Offshore Partners LP et al: Complaint

August 12, 2019 - Class Action Complaint in Steven Monosson and Mark Whiting, both of California v. Teekay Offshore Partners LP, of the Marshall Islands; Teekay Offshore GP LLC, a Marshall Islands entity owned by Brookfield TK TOGP LP, of Bermuda; Brookfield Asset Management Inc., domiciled in Canada, listed on the New York Stock Exchange; Brookfield Business Partners LP, of Bermuda; William Utt, Ian Craig, Kenneth Hvid, Craig Laurie, David Lemmon, Jim Reid, Denis Turcotte, Greg Morrison, William Transier, Walter Weathers, Ingvild Saether, Jane Rune Steinsland, and Cyrus Madon at the U. S. District Court for the Southern District of New York.

USA moves to bar trial evidence that 'bribes are a custom' in Barbados

August 12, 2019 - Former Barbados Government Minister Donville Inniss should be precluded from introducing evidence at his upcoming money laundering trial in New York that "bribes are a custom or practice in Barbados", the United States has argued. The alleged scheme involved insurers BF&M, of Bermuda, and Insurance Corporation of Barbados.

SEC v. Aramex International Ltd.: Action for 'Delinquent Filings'

August 06, 2019 - Order Instituting Administrative Proceedings regarding alleged delinquent filings in U. S. Securities and Exchange Commission v. Aramex International Limited, domiciled in Bermuda, based in Jordan.

Freestream Aircraft (Bermuda) Ltd. et al v. Husch Blackwell LLP et al: Complaint

August 02, 2019 - Complaint alleging fraud regarding a Cayman Islands-registered Airbus A319-115 aircraft and involving "a group of entities registered in the British Virgin Islands whose principal resides in Burkina Faso" in Brinley Holdings Inc., of Panama, and Freestream Aircraft (Bermuda) Ltd., of Bermuda v. Husch Blackwell LLP, a law firm domiciled in Delaware, based in Missouri, and Michael A. Cosby, of Missouri, at the U. S. District Court for the Northern District of Illinois.

USA v. Donville Inniss et al: Second Superseding Indictment

August 01, 2019 - Second Superseding Indictment for money laundering regarding an alleged bribery scheme that, inter alia, involved Insurance Corporation of Barbados Ltd., of Barbados, and BF&M Ltd., of Bermuda, in USA v. Donville Inniss, described as a former Member of Parliament and Minister of Industry, International Business, Commerce and Small Business Development in Barbados; Ingrid Innes, described as a citizen of Canada and resident of Barbados, and Alex Tasker, described as a citizen and resident of Barbados, at the U. S. District Court for the Eastern District of New York.

Access Advantage Master Ltd. v. Alpha Prime Fund Ltd.: Complaint

July 31, 2019 - Complaint regarding $30 million invested in a fraudulent scheme by Bernard Madoff in Access Advantage Master Ltd., domiciled in the British Virgin Islands, based in Corte Madera, California v. Alpha Prime Fund Ltd., of Bermuda, at the Supreme Court of the State of New York, County of New York.

AWH Fund Ltd. v. ZCM Asset Holding Company (Bermuda) Ltd.: Judgment

July 29, 2019 - Judgment in an appeal from the Court of Appeal of the Bahamas regarding service outside the jurisdiction in AWH Fund Ltd. (in Compulsory Liquidation), of the Bahamas v. ZCM Asset Holding Company (Bermuda) Ltd., of Bermuda, at the Privy Council, in the United Kingdom.

Orasasintavee Co. Ltd. v. K-Swiss International Ltd. et al: Complaint

July 26, 2019 - Complaint in Orasasintavee Co. Ltd., of Thailand v. K-Swiss International Ltd., domiciled in Bermuda, based in Taiwan, and K-Swiss Inc., domiciled in Delaware, based in California, at the Superior Court of the State of California, County of Los Angeles.

Schahin Holdings SA et al: Chapter 15 Petition

July 26, 2019 - Chapter 15 Petition for Recognition of a Foreign Main Proceeding in Brazil by Osana Mendonça, as the Foreign Representative of Schahin Holdings SA, Base Engenharia e Serviços de Petróleo e Gás SA, a.k.a. Schahin Engenharia SA; Schahin Empreendimentos Imobiliarios Ltda, Schahin Securitizadora de Créditos Financeiros SA, Schahin Desenvolimento Imobiliários SA, Companhia Schahin de Ativos, MTS Participações SA, Satasch Participações Ltda, and Deep Black Drilling LLP, at the U. S. Bankruptcy Court for the Southern District of Florida. It is alleged in the petition that the Schahin Group was involved in a bribery scheme involving companies in several jurisdictions, including Austria, Bermuda, the British Virgin Islands, Panama, Uruguay, and the USA.

Cambria County Employees' Retirement System v. Athene Asset Management LLC et al: Complaint

July 25, 2019 - Complaint in Cambria County Employees' Retirement System v. Athene Asset Management LLC and Apollo Global Management LLC, both of Delaware, as defendants, and Athene Holding Ltd., a Bermuda-domiciled insurance holding company whose securities are listed on the New York Stock Exchange, as nominal defendant, at the Supreme Court of the State of New York, County 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.