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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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Kumtor Gold Company CJSC et al: Chapter 11 Petition

May 31, 2021 - Chapter 11 Petition by Kumtor Gold Company CJSC and Kumtor Operating Company CSJC, both of the Kyrgyz Republic and owned by Centerra Gold Inc., of Toronto, Canada, at the U. S. Bankruptcy Court for the Southern District of New York. Creditors include companies in Belarus, Belgium, Canada, China, England, Finland, Gibraltar, Kazakhstan, Kyrgyz Republic, Netherlands, Russia, Scotland, and Switzerland.

Wilhelmus Johannes van Opzeeland et al v. Cannafornia Holdings Inc. et al: Complaint

May 28, 2021 - Complaint alleging a cannabis-based investment fraud in Wilhelmus Johannes van Opzeeland, a citizen of the Netherlands residing in Singapore; Qi Guan, a citizen of China residing in England, and Mindaugas Montvilas, a citizen and resident of Lithuania v. Cannafornia Holdings Inc. and Paul King at the U. S. District Court for the Northern District of California.

MarkDutchCo 1 B.V. et al v. Zeta Interactive Corp.: Petition to Compel Arbitration

May 04, 2021 - Petition to Compel Arbitration in MarkDutchCo 1 B.V., of the Netherlands, and Markmidco Sarl, of Luxembourg v. Zeta Interactive Corp. at the U. S. District Court for the District of Delaware.

Stands4 LLC et al v. Dan.com: Complaint

April 21, 2021 - Complaint alleging the defendants induced the plaintiffs "to transfer substantial funds to DAN.com for a domain name [calculator.com] that Defendants did not own and could not sell" in Stands4 LLC, of Delaware, and Stands4 Ltd., of Israel v. Undeveloped BV, d.b.a. Dan.com, of the Netherlands, at the U. S. District Court for the District of Delaware.

Kazakhstan et al v. Daniel Chapman et al: Notice of Removal

April 20, 2021 - Notice of Removal, including a copy of the complaint alleging the defendants "are conspiring with, and aiding and abetting, a fraudulent scheme led by Moldovan oligarch Anatolie Stati, his son Gabriel Stati, and a murky web of companies that they control, often secretly", in Republic of Kazakhstan and Outrider Management LLC v. Daniel Chapman, Argentem Creek Holdings LLC, Argentem Creek Partners LP, Pathfinder Argentem Creek GP LLC, and ACP I Trading LLC at the U. S. District Court for the Southern District of New York.

Samarco Mineração SA: Chapter 15 Petition

April 19, 2021 - Chapter 15 Petition for Recognition of a Foreign Main Proceeding in Brazil by Cristina Morgan Cavalcanti, as the Foreign Representation of Samarco Mineração S.A., of Belo Horizonte, described as "a privately held Brazilian mining company that started its operations in 1977", filed at the U. S. Bankruptcy Court for the Southern District of New York.

DTEK Finance Plc: Chapter 15 Petition (2021)

April 16, 2021 - Chapter 15 Petition for Recognition of a Foreign Main Proceeding in England by Johan Bastin, as the Foreign Representative of DTEK Finance Plc, of England, described as being part of a group that "operates the largest privately-owned energy business in Ukraine, as measured by metric tons of coal produced and net output of electricity", for use in legal proceedings in England, filed at the U. S. Bankruptcy Court for the Southern District of New York.

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.

SEC v. Shamoon Rafiq: Complaint

March 12, 2021 - Complaint alleging fraud in U. S. Securities and Exchange Commission v. Shamoon Omer Rafiq, a.k.a. Omer Rafiq, a.k.a. Omar Rafiq, described as a citizen of the Netherlands who "until at least recently, resided in Singapore" and is "a recidivist securities fraudster", at the U. S. District Court for the Southern District of New York.

VoIP Guardian Partners I LLC v. British Telecommunications Plc et al: Complaint

March 10, 2021 - Complaint for damages of $34 million alleging breach of contract and unjust enrichment in Timothy Yoo, Chapter 7 Trustee of VoIP Guardian Partners I LLC, described as "a telecom factor financier" v. Hilf Telecom BV, of the Netherlands; BT Nederland NV, of the Netherlands; British Telecommunications Plc, of the United Kingdom, and Ofer Hilf, of the Netherlands, at the U. S. District Court for the Central 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.