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CAYMAN ISLANDS

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Cayman law firm sued by clients who claim to have lost $524K in 'phishing scam'

July 09, 2020 - Cayman Islands law firm Giglioli & Company is being sued by clients David and Michelle Holden, who claim the company's computer server was hacked and emails intercepted, causing them to be swindled out of US$523,998.

Oasis Land Development Ltd. v. Lenworth Bailey: Writ of Summons

July 06, 2020 - Writ of Summons in Oasis Land Development Limited v. Lenworth Seymour Bailey at the Grand Court of the Cayman Islands.

LCM XXII Ltd. et al v. Serta Simmons Bedding LLC et al: Complaint

July 02, 2020 - Complaint alleging "improper debt exchange with a handpicked group of first-lien lenders" in LCM XXII Ltd., LCM XXIII Ltd., LCM XXIV Ltd., LCM XXV Ltd., LCM 26 Ltd., LCM27 Ltd., and LCM 28 Ltd., all of the Cayman Islands v. Serta Simmons Bedding LLC, described as a Delaware company based in Georgia; Advent International Corporation, described as a Delaware company based in Boston, MA; Eaton Vance Management, described as a Maryland company based in Massachusetts; Invesco Senior Secured Management Inc., described as a Delaware company based in New York; Credit Suisse Asset Management LLC, described as a Delaware company based in New York; Boston Management and Research, described as a Maryland company based in Massachusetts, and Barings LLC, described as being domiciled and based in Massachusetts, at the U. S. District Court for the Southern District of New York.

Vietnam Manufacturing and Export Processing (Holdings) Ltd.: Petition

July 01, 2020 - Petition regarding a Scheme of Arrangement in the matter of Vietnam Manufacturing and Export Processing (Holdings) Limited, a Cayman Islands company based in Hong Kong, at the Grand Court of the Cayman Islands.

Abraaj Holdings v. The GHF Group Ltd.: Writ of Summons

June 30, 2020 - Writ of Summons by Simon Conway, Michael Jervis, and Mohammed Farzadi, as Joint Official Liquidators of Abraaj Holdings (in Official Liquidation) v. The GHF Group Limited at the Grand Court of the Cayman Islands.

Alesia Re SPC: License Revocation

June 29, 2020 - Decision Notice by the Cayman Islands Monetary Authority revoking the Insurer License of Alesia Re SPC.

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.

Kirk Hawkins v. ICON Aircraft Inc. et al: Complaint

June 26, 2020 - Complaint in Kirk Hawkins, of California v. ICON Aircraft Inc., described as a Delaware company based in Vacaville, California; Shanghai Pudong Science and Technology Investment Co. Ltd., described as "a Chinese state-owned enterprise"; PK Capital LP, Pudong Science and Technology Investment Cayman Co. Ltd., of the Cayman Islands, and Xudong Zhu, of China, at the Superior Court of the State of California, for the County of Los Angeles.

JRjr Inc. et al v. JGB (Cayman) Port Ellen Ltd. et al: Complaint

June 26, 2020 - Complaint alleging breach of contract and fraudulent misrepresentation in Robert Yaquinto, Jr., as Chapter 7 Trustee of JRjr 33 Inc. and The Longaberger Company v. JGB Collateral LLC, of Delaware; JGB Capital LP, of Delaware; JGB (Cayman) Port Ellen Ltd., of the Cayman Islands; JGB Partners LP, of Delaware; Rochon Capital Partners Lending Ltd., formerly known as Rochon Capital Partners Ltd., of Texas; John P. Rochon, and Donna Rochon, both of Dallas, Texas, at the U. S. Bankruptcy Court for the Northern District of Texas.

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.

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.