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Dundee Pikco Ltd.: Chapter 15 Petition

January 20, 2020 - Chapter 15 Petition for Recognition of a Foreign Main Proceeding in England and Wales by Michael Thomas, of THM Partners, as the Foreign Representatives of Dundee Pikco Ltd., whose subsidiaries include those in the Cayman Islands and Dubai, at the U. S. Bankruptcy Court for the District of Delaware.

Morgan Gatsby Ltd.: Corporate Information

January 08, 2020 - Corporate Information, including names of directors and shareholders, for Morgan Gatsby Limited obtained from the Dubai International Financial Centre.

Morgan Gatsby Ltd.: Fine

January 06, 2020 - Decision Notice by the Dubai Financial Services Authority announcing a fine against Morgan Gatsby Limited regarding the promotion of Essel Africa Natural Resource Fund, of Luxembourg, and other matters. Editor's Note: Research by OffshoreAlert showed that, according to the website of the Dubai International Financial Centre, Morgan Gatsby Limited went into liquidation on February 5th, 2019, that its directors are Gagan Jawahar Goyal, Shahzaad Siraj Dalal, and Ajay Rajinder Arora, and former directors include Pankaj Prem Gupta, Mazin Mohammad Mohyelddin Alkhatib, Farhan Abdulrahim Mohammed Faraidooni, Ahmad Abdulla Juma Binbyat, and George Zaki George Mushahwar.

Arab nations claim 'hundreds of millions of dollars are missing' from Cayman Islands fund

December 30, 2019 - In an application to take discovery from 12 US banks, a financial institution owned by six Arab nations claims that "hundreds of millions of dollars are missing" from a Cayman Islands investment fund that was set up to invest in "port-related assets around the world".

August Carbera et al v. Black & Veatch Special Projects Corp. et al: Complaint

December 27, 2019 - Complaint alleging Violation of the Anti-Terrorism Act in August Carbera et al v. Black & Veatch Special Projects Corporation, described as a Delaware company based in Kansas; Centerra Group, LLC, described as a Delaware company based in Florida; DAI Global LLC, described as a Delaware company based in Maryland; Environmental Chemical Corporation, described as a Kentucky company based in California; G4S Holdings International (AG) Limited, described as a "wholly owned subsidiary of G4S Plc", of England; G4S Risk Management Limited, of England; Janus Global Operations LLC, described as a Delaware company based in Tennessee; Louis Berger Group, Inc., described as a Delaware company based in New Jersey; Louis Berger International, Inc., described as a Delaware company based in New Jersey; The Louis Berger Group, Inc./Black & Veatch Special Projects Corporation Joint Venture, based in Washington, DC; MTN Group Limited, described as "a South African telecommunications company whose stock trades publicly on the Johannesburg Stock Exchange"; MTN (Dubai) Limited, of Dubai, and MTN Afghanistan, of Afghanistan, at the U. S. District Court for the District of Columbia.

Jetex FZE v. Windsor Jet Management: Complaint

December 27, 2019 - Complaint alleging breach of contract in Jetex FZE, of Dubai v. Professional Flight Transport Inc., d.b.a. Windsor Jet Management, at the Circuit Court of the 17th Judicial Circuit, in and for Broward County, Florida.

Gulf Investment Corp. v. Bank of America et al: Discovery Application

December 26, 2019 - Application by Gulf Investment Corporation, of Kuwait, described as "a supranational financial institution owned equally by the six Gulf Cooperation Council states: The Kingdom of Bahrain; The State of Kuwait; The Sultanate of Oman; The State of Qatar; The Kingdom of Saudi Arabia; and The United Arab Emirates", to take discovery from Bank of America, NA, The Bank of New York Mellon, Citibank, NA, Deutsche Bank AG, New York Branch; Deutsche Bank Trust Company USA, Goldman Sachs and Co., HSBC Bank USA, NA, JPMorgan Chase Bank, NA, Mashreqbank PSC, New York Branch; National Australia Bank Limited, New York Branch; Standard Chartered Bank, New York Branch; and Wells Fargo Bank NA for use in "contemplated litigation in the Cayman Islands" regarding "hundreds of millions of dollars that have gone missing", filed at the U. S. District Court for the Southern District of New York.

Standard Chartered Bank sued for 'retaliating' against 'Iran money laundering whistleblowers'

December 24, 2019 - Two "whistleblowers" in India and England are suing the British, Dubai and New York operations of their former employer, Standard Chartered Bank, for allegedly retaliating against them for exposing "a highly sophisticated money laundering scheme on behalf of Iran".

Anshuman Chandra et al v. Standard Chartered Bank et al: Complaint

December 23, 2019 - Complaint alleging "unlawful retaliation" against alleged whistleblowers for exposing a "highly sophisticated money laundering scheme on behalf of Iran" in Anshuman Chandra, of India, and Julian M. Knight, of the United Kingdom v. Standard Chartered Bank, of England; Standard Chartered Bank, of Dubai, and Standard Chartered Bank, of New York, at the U. S. District Court for the Southern District of New York.

W1 Optimum Partners, LLC v. White Rock DMCC: Complaint

November 26, 2019 - Complaint " concerning an outrageous demand for compensation ... arising from a business relationship between Optimum and the Investment Corporation of Dubai" in W1 Optimum Partners, LLC, of Delaware v. White Rock DMCC, of Dubai, at the Circuit Court of the Ninth Judicial Circuit, in and for Osceola County, Florida.

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.