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CFTC v. John Gorman III: Complaint

February 01, 2021 - Complaint alleging that "a U.S. dollar swaps trader and managing director of a global investment bank, trading from Tokyo, Japan for a U.S. affiliate of the Bank, engaged in a scheme to deceive and to manipulate the price of U.S. dollar interest rate swap spreads published on a screen displaying prices from a swap execution facility broker firm in the United States" in Commodity Futures Trading Commission v. John Patrick Gorman III, described as a citizen of the United States residing in the United Kingdom, at the U. S. District Court for the Southern District of New York.

Masahiko Nishiyama: Chapter 15 Petition

January 22, 2021 - Chapter 15 Petition for Recognition of a Foreign Main Proceeding in Japan by Hiroshi Morimoto, of Kitahama Partners, as the Foreign Representative of Masahiko Nishiyama, a bankrupt who was found guilty of "fraudulently concealing his assets", at the U. S. Bankruptcy Court for the Northern District of Illinois.

Zaif Inc. v. Binance Holdings Ltd. et al: Complaint

January 19, 2021 - Complaint alleging "the laundering of stolen cryptocurrency" in Zaif Inc., described as "a Japanese cryptocurrency exchange" v. Binance Holdings Ltd., a Cayman Islands company described as "a 'go-to' location for cybercriminals to convert purloined cryptocurrency to other cryptocurrency or cash", and BAM Trading Services Inc. at the Superior Court of the State of California, County of San Francisco.

Zim Integrated Shipping Services Ltd. v. M/V Seroja Lima: Amended Discovery Application

January 04, 2021 - Amended Ex Parte Emergency Application by Zim Integrated Shipping Services Ltd. to take discovery from the Master of the M/V Seroja Lima, described as being flagged in Panama and owned by "Leo Ocean/Tokei Kaiun which were and are business entities organized and existing under the laws of Panama and Japan respectively", for use in "foreign and international legal proceedings soon to be commenced against and also by Zim", filed at the U. S. District Court for the Southern District of Florida.

Adamas Asia Strategic Opportunity Fund Ltd. v. Takeshi Kadota: Writ of Summons

January 04, 2021 - Writ of Summons in Adamas Asia Strategic Opportunity Fund Limited (in Official Liquidation) v. Takeshi Kadota, of Japan, at the Grand Court of the Cayman Islands.

Toridoll Holdings Corporation v. Toridoll and Heyi Group Company Ltd.: Winding Up Petition

December 15, 2020 - Winding Up Petition in Toridoll Holdings Corporation, of Japan v. Toridoll and Heyi Group Company Limited, which "engages in the business of establishing, operating and managing a chain of stores and restaurants" in China, Hong Kong, and Singapore, at the Grand Court of the Cayman Islands.

Cayman crypto exchange Binance sues Forbes for defamation

November 19, 2020 - Cayman Islands-domiciled cryptocurrency exchange Binance Holdings is suing U.S.-based news provider Forbes and two of its reporters for defamation over a recent article headlined "Leaked 'Tai Chi' Document Reveals Binance's Elaborate Scheme To Evade Bitcoin Regulators".

Garrett Motion Inc. et al: Chapter 11 Petition

September 20, 2020 - Chapter 11 Petition by Garrett Motion Inc., of Switzerland, which "designs, manufactures and sells highly engineered turbocharger, electric-boosting and connected vehicle technologies for original equipment manufacturers and the aftermarket"; BRH LLC, of Switzerland; Calvari Limited, of Ireland; Friction Materials LLC, of Michigan; Garrett ASASCO Inc., of Michigan; Garrett Borrowing LLC, of Michigan; Garrett Holding Company Sàrl, of Switzerland; Garrett LX I Sàrl, of Luxembourg; Garrett LX II Sàrl, of Luxembourg; Garrett LX III Sàrl, of Luxembourg; Garrett Motion Australia Pty Limited, of Australia; Garrett Motion Automotive Research Mexico S. de R.L. de C.V., of Mexico; Garrett Motion Holdings Inc., of Michigan; Garrett Motion Holdings II Inc., of Michigan; Garrett Motion International Services S.R.L., of Romania; Garrett Motion Ireland A Limited, of Ireland; Garrett Motion Ireland B Limited, of Ireland; Garrett Motion Ireland C Limited, of Ireland; Garrett Motion Ireland Limited, of Ireland; Garrett Motion Italia S.r.l., of Italy; Garrett Motion Japan Inc., of Japan; Garrett Motion LLC, of Michigan; Garrett Motion México, Sociedad Anónima de Capital Variable, of Mexico; Garrett Motion Romania S.R.L., of Romania; Garrett Motion Sàrl, of Switzerland; Garrett Motion Slovakia s.r.o., of Slovakia; Garrett Motion Switzerland Holdings Sàrl, of Switzerland; Garrett Motion UK A Limited, of England; Garrett Motion UK B Limited, of England; Garrett Motion UK C Limited, of England; Garrett Motion UK D Limited, of England; Garrett Motion UK Limited, of England; Garrett Transportation I Inc., of Michigan; Garrett Transportation Systems Ltd., of England; Garrett Transportation Systems UK II Ltd., of England; Garrett TS Ltd., of England, and Garrett Turbo Ltd., of England, at the U. S. Bankruptcy Court for the Southern District of New York.

Cayman crypto exchange Binance sued for 'laundering $9M Japan theft proceeds'

September 14, 2020 - Cayman Islands-domiciled cryptocurrency exchange Binance Holdings Limited is being sued in California for allegedly laundering more than $9 million of cryptocurrency stolen from a Japanese exchange.

Fisco Cryptocurrency Exchange Inc. v. Binance Holdings Ltd.: Complaint

September 14, 2020 - Complaint alleging "the laundering of stolen cryptocurrency" in Fisco Cryptocurrency Exchange Inc., described as "a Japanese cryptocurrency exchange" v. Binance Holdings Limited, a Cayman Islands cryptocurrency exchange described as "a 'go-to' location for cybercriminals to convert purloined cryptocurrency to other cryptocurrency or cash", at the U. S. District Court for the Northern District of California.

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.