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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.

CAYMAN ISLANDS

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IIG Global Trade Finance Fund Ltd.: Chapter 15 Petition

January 17, 2020 - Chapter 15 Petition for Recognition of a Foreign Main Proceeding in the Cayman Islands by Alexander Lawson and Christopher Kennedy, of Alvarez and Marsal Cayman Islands Ltd., as the Foreign Representatives of IIG Global Trade Finance Fund Ltd. (in Official Liquidation), at the U. S. Bankruptcy Court for the Southern District of New York.

Fraud charges filed over Cayman firm's $30M ICO

January 17, 2020 - Criminal and regulatory charges alleging fraud have been brought in New Jersey against Canadian Boaz Manor and Israeli attorney Edith Pardo regarding a $30 million Initial Coin Offering by BCT Inc. SEZC, of the Cayman Islands.

Richard Stadtmauer et al v. Mark Nordlicht: Petition

January 14, 2020 - Petition to Confirm Arbitration Award of $14.9 million regarding hedge funds operated by the Platinum Partners group in the Cayman Islands and the United States, in Richard Stadtmauer and Marisa Stadtmauer v. Mark Nordlicht at the U. S. District Court for the Southern District of New York.

XiO Fund LLP v. Silicon Valley Bank: Discovery Application

January 14, 2020 - Application by Gwynn Hopkins, of Perun Consultants Limited, in Hong Kong, and Gordon MacRae, of Kalo (Cayman) Limited, of the Cayman Islands, as Joint and Several Interim Receivers of XiO Fund LLP, of the Cayman Islands, to take discovery from Silicon Valley Bank for use in legal proceedings in the Cayman Islands, filed at the U. S. District Court for the Northern District of California. Editor's Note: This discovery application includes, as an exhibit, a copy of the underlying complaint alleging fraud involving hundreds of millions of dollars that was filed under seal at the Grand Court of the Cayman Islands on May 8th, 2019 and, eight months later, remains sealed as part of the Cayman Court's secretly-imposed mass-sealing policy - implemented by Chief Justice Anthony Smellie - that conceals from public view even the existence of many cases involving allegations of impropriety and insolvency against the jurisdiction's hedge funds.

KTH Capital Management Ltd.: License Revocation

January 14, 2020 - Decision Notice by the Cayman Islands Monetary Authority announcing the license revocation of KTH Capital Management Limited.

Alvin Brown: Habeas Corpus Application

January 10, 2020 - Ex Parte Application for A Writ of Habeas Corpus Ad Subjiciendum by Alvin Winston Brown at the Grand Court of the Cayman Islands.

Peter Southgate v. Cayman Islands Immigration Appeals Tribunal: Judicial Review

January 10, 2020 - Application for Leave to Apply for Judicial Review in Peter Christopher Southgate, a citizen of the United Kingdom residing in Fort Lauderdale, Florida, where he is "Regional Director of the Americas for the Maritime Authority of the Cayman Islands" v. The Immigration Appeals Tribunal at the Grand Court of the Cayman Islands.

Sally Anne Southgate v. Cayman Islands Immigration Appeals Tribunal: Judicial Review

January 10, 2020 - Application for Leave to Apply for Judicial Review in Sally Anne Southgate, a citizen of the United Kingdom residing in Fort Lauderdale, Florida v. The Immigration Appeals Tribunal at the Grand Court of the Cayman Islands.

IIG Global Trade Finance Fund Ltd. v. TOF Cayman SPV: Winding Up Petition

January 10, 2020 - Winding Up Petition alleging a debt of $15.8 million in IIG Global Trade Finance Fund Ltd. Iin Official Liquidation) v. TOF Cayman SPV at the Grand Court of the Cayman Islands.

Eltan Pinto v. Cayman Islands Immigration Appeals Tribunal: Originating Motion

January 09, 2020 - Notice of Originating Motion for Leave to Extend Time to Appeal in Eltan Johnathon Pinto v. The Immigration Appeals Tribunal at the Grand Court of the Cayman Islands.

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.