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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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FourWorld Event Opportunities LP et al v. General Atlantic LLC et al: Discovery Application

July 23, 2021 - Application by FourWorld Event Opportunities LP and Genesis Emerging Markets Investment Company to take discovery from General Atlantic LLC, General Atlantic Service Company, L.P., GASF Interholdco Ltd., General Atlantic Partners (Bermuda) III, LP, General Atlantic Partners (Bermuda) IV LP, Inc., GAP Coinvestments CDA LP, GAP Coinvestments III LLC, GAP Coinvestments IV LLC, GAP Coinvestments V LLC, GAP (Bermuda) Ltd., General Atlantic GenPar (Bermuda) LP, General Atlantic Singapore Fund Pte. Ltd., General Atlantic Singapore 58 Pte. Ltd., and General Atlantic Singapore 58TP Pte. Ltd., Warburg Pincus LLC, Warburg Pincus China-Southeast Asia II (Cayman) LP, Warburg Pincus China-Southeast Asia II-E (Cayman) LP, WP China-Southeast Asia II Partners (Cayman) LP, Warburg Pincus China-Southeast Asia II Partners LP, Warburg Pincus (Callisto) Global Growth (Cayman) LP, Warburg Pincus (Europa) Global Growth (Cayman) LP, Warburg Pincus Global Growth-B (Cayman) LP, Warburg Pincus Global Growth-E (Cayman) LP, WP Global Growth Partners (Cayman) LP, Warburg Pincus Global Growth Partners (Cayman) LP, and Polarite Gem Holdings Group, Ltd. for use in "an appraisal proceeding filed in the Grand Court of the Cayman Islands" at the U. S. District Court for the Southern District of New York.

Donald Ramsey v. Coinbase Global Inc. et al: Class Action Complaint

July 22, 2021 - Class Action Complaint alleging "Offering Materials were inaccurate and misleading" and "contained untrue statements of material facts" in Donald Ramsey v. Coinbase Global Inc., of Delaware, described as "the largest cryptocurrency exchange in the United States"; Brian Armstrong, Alesia J. Haas, Jennifer N. Jones, Surojit Chatterjee, Paul Grewal, Marc L. Andreessen, Frederick Ernest Ehrsam III, Kathryn Haun, Kelly Kramer, Gokul Rajaram, Fred Wilson, AH Capital Management LLC, Paradigm Fund LP, Ribbit Management Company LLC, Tiger Global Management LLC, Tiger Global Management LLC, Union Square Ventures LLC, and Viserion Investment Pte Ltd., of Singapore, at the U. S. District Court for the Northern District of California.

Reebonz Holding Ltd.: Directors

July 16, 2021 - Director Report for Reebonz Holding Limited, obtained from the Cayman Islands General Registry on July 16, 2021.

ENG LLC v. Trax Ltd.: Stop Notice

July 15, 2021 - Stop Notice by ENG LLC, of Delaware, regarding shares in Trax Ltd., of the Cayman Islands, registered to Topmost Access Limited and Tron LP, filed at the Grand Court of the Cayman Islands.

Dorset Ltd. v. Trax Ltd.: Stop Notice

July 15, 2021 - Stop Notice by Dorset Limited, of the Marshall Islands, regarding shares in Trax Ltd., of the Cayman Islands, registered to Panagiotis Triantafyllidis, filed at the Grand Court of the Cayman Islands.

Alto Opportunity Master Fund SPC v. Reebonz Holdings Ltd.: Judgment

July 14, 2021 - Judgment for $4.8 million in Alto Opportunity Master Fund, SPC-Segregated Master Portfolio B, of the Cayman Islands v. Reebonz Holdings Limited, a Cayman Islands company based in Singapore, at the Supreme Court of the State of New York, County of New York. Editor's Note: Research by OffshoreAlert at the Cayman Islands General Registry showed that the directors of Reebonz Holding Limited, which appears to be the correct name for the company identified throughout the litigation, even in contracts signed by its own representatives, as "Reebonz Holdings Limited", were identified as Arthur Chua, Charles Goh, Roderick Perry, and Samuel Lim Kok Eng.

Makhpal Karibzhanova v. Mubadala Fund et al: Discovery Application

July 14, 2021 - Application by Makhpal Karibzhanova, described as "a citizen of Kazakhstan and is the former wife of a wealthy and politically-connected Kazakh businessman, Aidan Karibzhanov" whose "wealth is held in offshore structures and through nominee ownership around the world, making it necessary to gather evidence from a number of countries, including the United States, the United Kingdom, Switzerland, the United Arab Emirates, and Singapore, as well as Kazakhstan and a number of offshore jurisdictions", including the British Virgin Islands, Cayman Islands, Hong Kong, and Singapore, to take discovery from Mubadala Fund, Extell Developrnent, Edward Mermelstein, One and Only Realty, Eduard Ogai, Credit Suisse, American Express and others for use in legal proceedings in Kazakhstan, filed at the U. S. District Court for the Eastern District of New York.

Hapag-Lloyd AG v. Master of NYK Delphinus: Discovery Application

June 25, 2021 - Application by Hapag-Lloyd Aktiengesellschaft, of Germany, to take discovery from the Master of NYK Delphinus, described as "a Liberian-flagged vessel time chartered to NYK Line, a Japanese company, and sub-time chartered to Ocean Network Express Pte. Ltd., a Singaporean company", for use in legal proceedings in Germany "for claims related to lost or damaged cargo", filed at the U. S. District Court for the Northern District of California.

Canadian regulator seeks fines & ban against crypto platform Bybit

June 21, 2021 - The Enforcement Branch of the Ontario Securities Commission is seeking fines and other penalties against British Virgin Islands-domiciled, Singapore-based cryptocurrency derivatives exchange Bybit for operating "contrary to the public interest".

Bybit Fintech Ltd.: Statement of Allegations

June 21, 2021 - Statement of Allegations alleging unregistered securities activity involving cryptocurrencies in the Enforcement Branch of the Ontario Securities Commission v. Bybit Fintech Limited, described as a British Virgin Islands-domiciled "online crypto asset trading platform", and which appears to be based in Singapore, before the Ontario Securities Commission.

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.