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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.

ISLE OF MAN

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Greensill Capital Inc.: Chapter 11 Petition

March 25, 2021 - Chapter 11 Petition by Greensill Capital Inc., a Delaware-domiciled "financial services company" that "arranged factoring and reverse factoring programs for clients globally" and which is directly owned by Greensill Capital Management (UK) Limited, of the United Kingdom, and indirectly owned by Greensill Capital Pty Limited, of Australia, and is part of a group that includes companies in Australia, Brazil, Cayman Islands, Germany, India, Isle of Man, Netherlands, Singapore, Switzerland, South Africa, United Arab Emirates, and United Kingdom, at the U. S. Bankruptcy Court for the Southern District of New York.

Simon McNally et al v. Carl Jackson et al: Originating Application

March 17, 2021 - Originating Application regarding insolvency proceedings in the Isle of Man in Simon John McNally and Simon Nicholas Hope Cooper v. Carl Stuart Jackson, of Southampton, England; Andrew Hosking, Simon Bonney, both of London, England, and Charlotte Caulfield, of the British Virgin Islands, as Joint Liquidators of Glen Moar Properties Limited, Unicorn Worldwide Holdings Limited, and Ballaugh Holdings Limited at the British Virgin Islands High Court.

Ambitions Ltd.: Revocation

February 17, 2021 - Public Statement by the Isle of Man Financial Services Authority that it has revoked the registration of Ambitions Limited after its director Richard Ian Kissack "pleaded guilty to eight counts of VAT fraud and one count of VAT evasion".

Finchpay Ltd.: Revocation

February 17, 2021 - Public Statement by the Isle of Man Financial Services Authority that it has revoked the registration of Finchpay Limited after its director Richard Ian Kissack "pleaded guilty to eight counts of VAT fraud and one count of VAT evasion".

Insignia 88 Ltd. et al v. M/Y Arena: Complaint

November 14, 2020 - Complaint for damages of £4.8 million alleging negligence from an "allision" in the Bay of Cannes, France, that resulted in "death and injuries" to "crew and guests" of a motor yacht called Minx in Insignia 88 Limited, of the Isle of Man, and American International Group UK Limited, of the United Kingdom v. M/Y Arena, described as a 92-foot motor yacht registered in Gibraltar, at the U. S. District Court for the Southern District of Florida.

Barry Dickinson et al v. Quilter International Isle of Man Ltd.: Defendant's Strike Out Application

October 30, 2020 - Defendant's Application to Strike Out Claims in Barry Dickinson, of Thailand, et al v. Quilter International Isle of Man Limited, f.k.a. Old Mutual International Isle of Man Limited, f.k.a. Nel Britannia International Assurance Limited, f.k.a. Royal Skandia Life Assurance Limited, of the Isle of Man, at the Isle of Man High Court.

Stephen Cryer: Disqualification

October 22, 2020 - Public Statement by the Isle of Man Financial Services Authority that it has disqualified Stephen David Cryer, described as "a senior financial advisor", for not being "fit and proper", a penalty that the regulator stated "reflects the serious nature of the lack of integrity of Mr Cryer".

Peter Kells et al v. Friends Provident International Ltd.: Defense

October 20, 2020 - Defense in Peter Kells, of Thailand, and other investors v. Friends Provident International Ltd., of the Isle of Man, at the Isle of Man High Court.

Big Time Holdings Inc.: Securities Registration Revocation

October 19, 2020 - Administrative Order by the U. S. Securities and Exchange Commission revoking the registration of securities issued by Big Time Holdings, Inc., described as a "forfeited Delaware corporation located in Douglas, Isle of Man". Editor's Note: In a filing with the SEC on October 29th, 2018, Big Time Holdings Inc. identified its CEO and sole director as David Smeed, its former directors and officers as Thomas DeNunzio, Brian Kistler, and Mandla Gwadiso, and its principal shareholders as Ascot Group Plc, of the Isle of Man, and Palewater Global Management, Inc., of New York, NY. Records filed with the Isle of Man's Companies Registry show that the directors of Ascot Group Plc are David Gordon Smeed, of Dublin, Ireland, and Lee John Bernard Murphy, of the Isle of Man.

Island Financial Solutions Ltd.: £63K Fine

September 28, 2020 - Public Statement by the Isle of Man Financial Services Authority imposing a fine of £62,996 on Island Financial Solutions Limited for regulatory breaches. Editor's Note: Research by OffshoreAlert in the Isle of Man Companies Registry showed that Island Financial Solutions Limited was formed on October 12th, 2002 and, in the company's annual return for 2019, its directors and shareholders were identified as Michael Shane Twist, a.k.a. Mike Twist, and Stephen John Groom, a.k.a. Steve Groom, each described as a "Financial Advisor" who is a citizen of the United Kingdom.

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.