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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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'Remove details of my Jersey FSC industry ban,' writes Gufur Hussain

June 16, 2021 - Letter to OffshoreAlert from Gufur Hussain requesting that we remove an announcement that he had been banned by the Jersey Financial Services Commission for "a lack of integrity".

3C Group Ltd. v. RevCascade Inc.: Complaint

June 15, 2021 - Complaint alleging "bad faith breach of a written agreement between the parties pursuant to which 3C would have acquired a controlling interest in RevCascade" in 3C Group Limited, a Guernsey-domiciled company based in England v. RevCascade Inc. at the U. S. District Court for the Southern District of New York.

Zuca Properties LLC: Chapter 11 Petition

June 07, 2021 - Chapter 11 Petition by Zuca Properties LLC, a Delaware company based in Geneva, Switzerland, that "was established to acquire property investments", at the U. S. Bankruptcy Court for the Southern District of New York. The seven largest unsecured creditors, with claims totaling more than $55 million, include those based in Brunei Darussalam, Jersey, in the Channel Islands; Luxembourg, Switzerland, and the United States.

Gufur Hussain: Industry Ban

May 20, 2021 - Public Statement by the Jersey Financial Services Commission announcing it has imposed a financial industry ban on Gufur Hussain, a.k.a. Ghafoor Hussain, for "a lack of integrity".

Keith Hammond: Disqualification

May 14, 2021 - Public Notice by the Guernsey Financial Services Commission that it has imposed "prohibition orders" against Keith Laurence Hammond "for failing to provide information to the Commission (initially via an Online Personal Questionnaire and subsequently in correspondence), that was full, frank and unambiguous, in relation to the circumstances surrounding his resignation from previous employment".

Whitfield Management Ltd. v. BVI Registrar of Corporate Affairs: Restoration Application

April 29, 2021 - Fixed Date Claim Form regarding Etasse Limited in Whitfield Management Limited, of Guernsey v. Registrar of Corporate Affairs at the British Virgin Islands High Court.

Sarah Jayne Sarre: £13.5K Fine

April 27, 2021 - Public Notice by the guernsey Financial Services Commission that it has imposed a fine of £13,500 on Sarah Jayne Sarre for "her failure to meet the minimum criteria for licensing".

Standard Chartered Trust (Guernsey) Ltd.: £140K Fine

April 23, 2021 - Public Notice by the Guernsey Financial Services Commission that it imposed a fine of £140,000 on Standard Chartered Trust (Guernsey) Limited for regulatory breaches.

Beauregarde Holdings LLP et al v. The Province of La Rioja: Complaint

April 22, 2021 - Complaint alleging the default of bond payments in Beauregarde Holdings LLP, of England; Beauregarde Holdings II LLP, Crown Managed Accounts SPC - Crown/GT Segregated Portfolio, of the Cayman Islands; GN3 SIP Limited, of Jersey, in the Channel Islands; GoldenTree Co-Invest Master Fund II Ltd., of the Cayman Islands; GoldenTree Credit Opportunities Master Fund Ltd., of the Cayman Islands; GoldenTree Emerging Markets Master Fund ICAV, of Ireland; GoldenTree Insurance Fund Series Interests of the SALI Multi-Series Fund, L.P., of Delaware; GoldenTree Master Fund, Ltd., of the Cayman Islands; GoldenTree Multi Sector-C LP, of Delaware; GoldenTree V1 Master Fund, L.P., of the Cayman Islands; GT NM, L.P., of Delaware; GTAM 110 Designated Activity Company, of Ireland; Guadalupe Fund, LP, of Texas; High Yield And Bank Loan Series Trust, of the Cayman Islands; MA Multi-Sector Opportunistic Fund, LP, of Delaware; Sandglass Opportunity Fund LP, of the Cayman Islands; Sandglass Petrus Opportunity Fund LP, of the Cayman Islands, and Sandglass Select Fund LP, of the Cayman Islands v. The Province of La Rioja, of Argentina, at the U. S. District Court for the Southern District of New York.

Guernsey regulator suspends investment fund Remus Horizons

April 15, 2021 - The registration of investment fund Remus Horizons PCC Limited, which is part of a group that includes individuals and companies in or from Australia, England, Guernsey, Hong Kong, India, Ireland, Italy, Texas, and the United Arab Emirates, has been suspended by the Guernsey Financial Services Commission less than five months after it was granted.

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.