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

BERMUDA

eMail Alerts  

Sign-Up for eMail Alerts

RSS Feed  

Subscribe to feed

Rite Aid of New Jersey Inc. et al v. Financial Structures Ltd. et al: Complaint

June 30, 2020 - Complaint in Rite Aid of New Jersey Inc., Rite Aid of Pennsylvania LLC, Rite Aid of Michigan Inc., and Rite Aid of New Hampshire Inc. v. WEC 98D-10 LLC, of Texas; WEC 98D-13 Investment Trust, of Delaware; WEC 98D-17 LLC, of Texas; WEC 98D-4 LLC, of Texas; WEC 98D-5 LLC, of Texas;; Financial Structures Limited, of Bermuda, and Pittsfield RA-320 LLC, of Delaware, at the U. S. District Court for the District of New Jersey.

Global Indemnity Ltd.: Petition

June 26, 2020 - Petition regarding a Scheme of Arrangement in the matter of Global Indemnity Limited at the Grand Court of the Cayman Islands.

Eric Ketayi et al v. AXIS Capital Holdings Ltd. et al: Class Action Complaint

June 26, 2020 - Class Action Complaint alleging "deceptive, fraudulent, unlawful, and/or unfair advertising, marketing, and sale of sham health insurance" in Eric Ketayi and Miryam Ketayi v. Health Enrollment Group, of Florida; Administrative Concepts Inc., of Pennsylvania; AXIS Capital Holdings Limited, of Bermuda; AXIS Specialty U.S. Services Inc., of Delaware; Alliance for Consumers USA, of Nebraska; Liberty Health, "an entity of unknown form"; Health Plan Intermediaries Holdings LLC, of Delaware; Health Insurance Innovations Holdings Inc., of Delaware; First Health Group Corp., of Delaware; Marc Munoz, Kevin Romero, and Juanita Nicolucci at the U. S. District Court for the Southern District of California.

Griffin Line Trading LLC v. Centaur Ventures Ltd. et al: Judgment

June 22, 2020 - Ruling regarding an application for a worldwide freezing order in Griffin Line Trading LLC, of Dubai v. Centaur Ventures Ltd., a Bermuda company that "acted as a commodities trader of coal in South Africa", and Daniel James McGowan at Bermuda Supreme Court.

Great Western Insurance Co. v. Gregory Tolaram et al: Opinion & Order

June 22, 2020 - Opinion and Order Regarding Motions to Dismiss a complaint alleging "a complex and massive fraud ... resulting in losses exceeding $135 million" involving Cayman Islands-domiciled Alpha Re Limited in Great Western Insurance Co. v. Mark Graham, Blue Capital Management, Inc., Blue Alternative Asset Management, LLC, Blue Elite Fund Ltd., Blue Elite Fund LP, Blue II Ltd., Wilmington Savings Fund Society, FSB, Christiana Trust, Donald Solow, Regatta Holdings LLC, Cygnet 001 Master Trust, Cygnet 001 Master Trust Series 2011-A, Cygnet 001 Master Trust Series 2011-C, Cygnet 001 Master Trust Series 2013-A, Sancus Capital Blue Credit Opportunities Fund Ltd., Ability Insurance Company, Advantage Capital Holding, LLC, Dan Cathcart, Kenneth King, and Gregory Tolaram at the U. S. District Court for the Southern District of New York.

LCM Asset Management LLC v. Serta Simmons Bedding LLC et al: Complaint

June 18, 2020 - Complaint that "challenges the actions of a debtor striking a deal negotiated in private with preferred lenders that will advantage those preferred lenders and deprive the remaining debtholders of their bargained-for contract rights" in LCM Asset Management LLC, a Delaware company based in New York, NY, v. Serta Simmons Bedding LLC, described as a Delaware company based in Doraville, GA; Advent International Corporation, described as a Delaware company based in Boston, MA; Eaton Vance Corp., described as a Maryland company based in Boston, MA; Invesco Ltd., described as a Bermuda company based in Atlanta, GA; Credit Suisse Group AG, described as a Swiss company based in Zurich, and Barings LLC, described as a Delaware company based in Charlotte, NC, at the Supreme Court of the State of New York, County of New York.

TA Genco Ltd. et al v. Agritrade Resources Ltd.: Judgment

June 17, 2020 - Judgment appointing Provisional Liquidators in TA Genco Limited, TA Private Debt III Limited, and Golden Equator Capital Pte. Ltd., of Singapore v. Agritrade Resources Limited, a Bermuda company whose shares are listed on the Hong Kong Stock Exchange, at Bermuda Supreme Court.

Malta FSA cancels licenses of three investment firms, fines two others

June 14, 2020 - In a series of regulatory actions announced on Friday, the Malta Financial Services Authority cancelled the licenses of three investment firms and imposed fines on a retirement scheme and its administrator.

Bluebird Reinsurance Company Ltd. v. ParkWest Advisors Group LLC: Complaint

June 12, 2020 - Complaint in Bluebird Reinsurance Company Ltd., of Bermuda v. ParkWest Advisors Group LLC at the U. S. District Court for the Southern District of New York.

North Star Debt Holdings LP et al v. Serta Simmons Bedding LLC et al: Complaint

June 11, 2020 - Complaint alleging an "unlawful scheme to rob certain of Serta's lenders" in North Star Debt Holdings LP, Silver Oak Capital LLC, AG Credit Solutions Non-ECI Master Fund, AG Centre Street Partnership LP, AG Super Fund Master LP, all of Delaware, and Gamut Capital SSB LLC, of the Cayman Islands v. Serta Simmons Bedding LLC, of Delaware; Advent International Corporation, of Delaware; Eaton Vance Corp., of Maryland; Invesco Ltd., of Bermuda; Credit Suisse Group AG, of Switzerland, and Barings LLC, of Delaware, 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.

View Recent Digests

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.