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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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La Dolce Vita Fine Dining Company et al v. Zhang Lan et al: Petition to Confirm Arbitral Awards (April 13, 2021)

April 13, 2021 - Petition to Confirm Arbitral Awards in Hong Kong and Singapore totaling $142 million in La Dolce Vita Fine Dining Company Limited and La Dolce Vita Fine Dining Group Holdings Limited, both of the Cayman Islands v. Zhang Lan, described as a citizen and resident of China; Grand Lan Holding Group (BVI) Limited, of the British Virgin Islands; Qiao Jiang Lan Development Limited, formerly South Beauty Development Limited, of the British Virgin Islands, and Apex Lead Investment Holdings Limited, of the Seychelles, at the U. S. District Court for the Southern District of New York.

Novasigma Limited: Unlicensed Activity

February 25, 2021 - Public Warning by the Gibraltar Financial Services Commission that Novasigma Limited "appears to be purporting to offer company management services in Gibraltar" without a license. Editor's Note: Research by OffshoreAlert at Companies House Gibraltar showed that Novasigma Limited was incorporated in Gibraltar on May 21st, 2015 and, in its most recent annual return dated May 4th, 2018, the company's sole director was identified as Jussi Olavi Hallikas, described as a Finnish "tax advisor" residing in Tbilisi, Georgia, and its sole shareholder as Novasigma Limited, of the Seychelles. The company's website at www.novasigma.com is no longer operational. In his LinkedIn profile, Hallikas is currently described as "Managing Director" of "Fidelcrest", a company purportedly domiciled in Hungary that offers "forex trading" products and services at www.fidelcrest.com.

The Deposit Guarantee Fund v. Citibank NA et al: Discovery Application

February 23, 2021 - Application by The Deposit Guarantee Fund, of Ukraine, to take discovery from Citibank, N.A., The Bank of New York Mellon, Société Générale, New York, HSBC Bank USA, N.A., BNP Paribas USA, JPMorgan Chase Bank, N.A., Barclays Bank PLC, Deutsche Bank Trust Co. Americas, Bank of Nova Scotia, UBS AG, Bank of America, N.A., Standard Chartered Bank US, Commerzbank AG US and The Clearing House Payments Company, LLC for use in a "contemplated proceeding ... against PJSC National Credit Bank, Eastmond Sales LLP, Bank Frick & Co. AG, and other unknown fraudsters" in England for suspected fraud involving several jurisdictions, including England, Liechtenstein, Marshall Islands, Seychelles, Switzerland, and Ukraine, filed at the U. S. District Court for the Southern District of New York.

Nikolay Falin v. Magnus Thorstenn: Discovery Application

February 15, 2021 - Ex Parte Application by Nikolay Anatolyevich Falin, described as "a Russian businessperson and the owner of the Maximum Group, a group of Russian companies engaged in the transportation of oversized and industrial cargo", to take discovery from Magnus Gylfi Thorstenn, described as a lawyer in New York, for use in legal proceedings in the British Virgin Islands involving allegations of fraud, filed at the U. S. District Court for the Eastern District of New York.

Laxton Investments Company Ltd. v. Honest Dynasty Ltd.: Stop Notice Re. Shares in Jyong Biotech Ltd.

January 15, 2021 - Stop Notice by Laxton Investments Company Limited regarding shares in Jyong Biotech Ltd. owned by Honest Dynasty Ltd., filed at the Grand Court of the Cayman Islands.

Briefline Assets Ltd. v. Belfast Services SA: Stop Notice

December 03, 2020 - Stop Notice in Briefline Assets Limited, of the Seychelles v. Belfast Services S.A. at the British Virgin Islands High Court.

Lake Holding & Finance S.A. v. UBS AG et al: Discovery Application

December 02, 2020 - Application by Lake Holding & Finance S.A., described as a British Virgin Islands company beneficially owned by Vladimir Vasilyevich Melnichenko, of Russia, to take discovery from UBS AG, Societe Generale/SG Private Bank, Banque Lombard Odier & Cie AG, a.k.a. Lombard Odier Darier Hentsch & Cie; CIM Banque SA, Kookmin Bank (Korea), Credit Suisse, PJSC Sberbank, Bank of America N.A., Citibank, N.A., Merrill Lynch Capital Corporation, Union Bancaire Privee CBI-TDB, Geneva, and BSI SA, Lugano for use in legal proceedings in Cyprus, France, Monaco, Russia, and Switzerland regarding alleged fraud, filed at the U. S. District Court for the Southern District of New York.

Jerome Wilson-Chalkley v. BitMEX et al: Complaint

November 30, 2020 - Complaint alleging fraud involving cryptocurrency in Jerome Wilson-Chalkley, of London, England v. HDR Global Trading Limited, a.k.a. BitMEX, described as a Seychelles-domiciled "cryptocurrency/derivatives exchange"; ABS Global Trading Limited, of San Francisco, California, and Arthur Hayes at the Superior Court of the State of California, County of San Francisco.

Proximity Aerospace Ltd. v. Stellar Aviation Company Inc.: Complaint

October 28, 2020 - Complaint in Proximity Aerospace Ltd., of Labuan, for itself and as assignee of certain rights and interests of JetSmart Aviation Ltd., of the Seychelles v. Stellar Aviation Company Inc., of Delaware, at the U. S. District Court for the Southern District of Florida.

MSM Services Ltd. v. BVI Registrar of Corporate Affairs: Restoration Application

October 01, 2020 - Fixed Date Claim Form regarding Dartford Properties Limited in M.S.M. Services Ltd., of Seychelles, v. The Registrar of Corporate Affairs at the British Virgin Islands High Court.

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.