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Providence Financial Investments Inc. et al: Trustee's Renewed Motion for Substantive Consolidation

March 02, 2021 - Trustee's Renewed Ex-Parte Motion for Substantive Consolidation of Debtors Only in re: Providence Financial Investments Inc. and Providence Fixed Income Fund LLC at the U. S. Bankruptcy Court for the Southern District of Florida.

Rakesh Khatri v. Gain Bitcoin et al: Complaint

February 26, 2021 - Complaint alleging fraud involving cryptocurrencies in Rakesh Khatri, a citizen of the United States, individually and as assignee of Reshma Khatri, Abishek Raja, Amit Kushwaha, Anchit Singh, Arvind Singh Bajetha, Ashish Lal, Ashitosh Sampat Raje, Ashok Kumar, Bhagyesh Hanumante, Chakresh Jain, Dharmender Shera, Gagan Deep Joshi, Gaurav Chhabra, Girija Raman, Karthik Raman, Lalit Kumar, Lokesh Sharma, Mohamed Haneefa Kottayil, Mohit Malhotra, Mukesh Gupta, Navneet Bhalla, Nikhil Jadhav, Pritpal Singh, Raghavendra R. Athani, Sachin Chavhan, Sanchit Malik, Saurab Wadhera, Shyam Singh, Siddhant Jain, Vikash Bhagat, Yash Jain, Ismail Nadukkandyil, Aarjav Jain, Siddharth Jain, Sanjay Jain, Mayank Jain, Vivek Tiwari, Malthesha P, Shubham Gupta, Sandeep Grewal, Nitin Koshti, Abishek Chauhan, Amar Singh Chandel, Priyavardhini Venkatram, Ajay Singh, Rajbir, Moumita Das, Rajesh Mehra, P.C. Mahajan, Pooja Ahirwar, Albert Ahirwar, Rani Singh, Shyam Lal, Anjan Roy, Arvinder Pal Singh, Vipin Sahney, Arpit Jain, Mukul Gupta, Aman Singhal, Brijesh Soni, Mahesh Vittal Yadav, Aman Paharia, Sandeep Bhalla, Sanjay Ahlawat, Atul Bhalla, Deepak Kumar, Balkrishna Baburao Raje, Girija Silver, Gaurav Gupta, Skalyan, and Deepak Shukla, all citizens of India v. VariableTech Private Limited, d.b.a. Gain Bitcoin, of Singapore; Amaze Mining and Blockchain Research Ltd., of Hong Kong; GBMiners, Mineral Mining Limited Company, described as "a company located in the United Arab Emirates"; Sun & Sand Mining & Minerals Resource (UK) Limited, described as "a company located in England"; Coin Bank-Safe Bitcoin Wallet, ZebPay Exchange, a.k.a. Zebay, a.k.a. Zeb Pay, described as "a cryptocurrency exchange, virtual wallet, and/or wallet provider headquartered in Singapore with a registered office in Australia"; Amit Bhardwaj, Ajay Bhardwaj, and Hemant Bhope at the U. S. District Court for the Northern District of Indiana.

Huy Vietnam Group Ltd.: Chapter 15 Petition

February 24, 2021 - Chapter 15 Petition for Recognition of a Foreign Main Proceeding in the Cayman Islands by Cosimo Borrelli and Mitchell Mansfield, as the Foreign Representatives of Huy Vietnam Group Limited (in Official Liquidation), whose Founder, Nhat Huy, "may have misappropriated approximately $59 million", at the U. S. Bankruptcy Court for the Southern District of New York.

Zhang Rui Kang et al v. Tunghsu Venus Holdings Ltd. et al: Judgment

February 19, 2021 - Judgment for $86 million in Zhang Rui Kang, of Singapore, and Le Huan-Hsin, of China v. Tunghsu Venus Holdings Limited, of the British Virgin Islands, and Tunghsu Group Co. Ltd., of China, at the Supreme Court of the State of New York, County of New York.

Chung Wan: Public Censure

February 19, 2021 - Public Notice by Singapore's Accounting and Corporate Regulatory Authority that it has issued a Public Censure to Chung Wan "for being convicted of an offense in the State Courts, in Singapore, of voluntarily causing hurt ... an offence implying a defect in character which makes him unfit for his profession".

Richard Fagan's British polo fraudsters set up fake 'Swiss bank' & attempt Cayman fund take-over

February 18, 2021 - Middle East-based British polo players led by Richard Fagan who fund their lavish lifestyles through investment fraud have set up a fake 'Swiss bank' and are trying to take over a Cayman Islands fund, OffshoreAlert can reveal.

Skandia Mutual Life Insurance Co. et al. v. Viatris Inc. et al: Complaint

February 15, 2021 - Complaint "to recover damages for losses Plaintiffs suffered in connection with their acquisition of Mylan securities between February 16, 2016 and May 24, 2019" in Skandia Mutual Life Insurance Co., Länsförsäkringar AB, both of Sweden; KBC Asset Management NV, of Belgium, and GIC Private Limited, described as a "sovereign wealth ... wholly by the Government of Singapore" v. Viatris Inc., described as being formed through a merger of Mylan NV, of the Netherlands, and Pfizer Inc.; Heather Bresch, Rajiv Malik, Kenneth S. Parks, Anthony Mauro, and James Nesta at the U. S. District Court for the Southern District of New York.

Agency for Policy Coordination on State Property et al v. JPMorgan Chase Bank NA: Discovery Application

February 11, 2021 - Ex Parte Application by the Agency for Policy Coordination on State Property, described as "the Mongolian government agency that owns and manages state-owned enterprises in various industry sectors, including energy production, mining, and transport"; Erdenet Mining Corporation, described as "a state-owned mining company that owns Mongolia's mining interests in the Erdenet mine", and Erdenes Oyu Tolgoi LLC, described as "a 34-percent shareholder of Oyu Tolgoi LLC, the project company that controls the operation of the Oyu Tolgoi mine", to take discovery from JPMorgan Chase Bank NA for use in legal proceedings in Mongolia against Batbold Sukhbaatar, described as a former Prime Minister of Mongolia; Ganzorig Chimiddorj, Tuul Ulambayar, Nyamdalai Ochirbat, Cheong Choo Young, Kim Hak Seon, Kim Yoonjung, Lee Yu Jeong, Rhee Byung Wook, Kang Eun Joo, Battushig Batbold, Catrison Limited, Cliveden Trading AG, and Genetrade Limited for an alleged $250 million fraud involving "a complex network of offshore and onshore corporate structures and proxies across numerous jurisdictions", including the British Virgin Islands, Jersey, in the Channel Islands; Hong Kong, Singapore, the United Kingdom and the United States, filed at the U. S. District Court for the Southern District of New York.

Seadrill Ltd. et al: Chapter 11 Petition

February 10, 2021 - Chapter 11 petitions by companies in Angola, Bermuda, Brazil, Canada, Hong Kong, Hungary, Liberia, Luxembourg, Malaysia, Mexico, Netherlands, Nigeria, Singapore, United Arab Emirates, United Kingdom, and the United States, specifically Seadrill Limited, Seadrill Limited, Asia Offshore Drilling Limited, Asia Offshore Rig 1 Limited, Asia Offshore Rig 2 Limited, Asia Offshore Rig 3 Limited, Eastern Drilling AS, North Atlantic Alpha Ltd., North Atlantic Elara Ltd., North Atlantic Epsilon Ltd., North Atlantic Linus Charterer Ltd., North Atlantic Navigator Ltd., North Atlantic Phoenix Ltd., North Atlantic Venture Ltd., Scorpion Courageous Ltd., Scorpion Deepwater B.V., Scorpion Deepwater Ltd., Scorpion Drilling Ltd., Scorpion Freedom Ltd., Scorpion International Ltd., Scorpion Nederlandse B.V., Scorpion Offshore Inc., Scorpion Resolute Ltd., Scorpion Rigs Ltd., Scorpion Servicos Offshore Ltda, Scorpion USA Expats, Inc., Scorpion Vigilant Ltd., SDS Drilling Ltd., Sea Dragon de Mexico S de R.L. de CV, Seadrill Abu Dhabi Operations Limited, Seadrill Americas, Inc., Seadrill Angola LDA, Seadrill Ariel Ltd., Seadrill Australia Pte Ltd., Seadrill Brunei Ltd., Seadrill Callisto Ltd., Seadrill Carina Ltd., Seadrill Castor Ltd., Seadrill Castor Pte Ltd., Seadrill Common Holdings Ltd., Seadrill Cressida Ltd., Seadrill Deepwater Charterer Ltd., Seadrill Deepwater Contracting Ltd., Seadrill Deepwater Crewing Ltd., Seadrill Deepwater Holdings Ltd., Seadrill Deepwater Units Pte Ltd., Seadrill Dione Ltd., Seadrill Eclipse Ltd., Seadrill Eminence Ltd., Seadrill Equatorial Guinea Ltd., Seadrill Europe Management AS, Seadrill Far East Limited, Seadrill Freedom Ltd., Seadrill GCC Operations Ltd., Seadrill Gemini Ltd., Seadrill Global Services Ltd., Seadrill Gulf Operations Neptune LLC, Seadrill Holdings Singapore Pte Ltd., Seadrill Hyperion Ltd., Seadrill Indonesia Ltd., Seadrill Insurance Ltd., Seadrill International Resourcing DMCC, Seadrill Investment Holding Company Limited, Seadrill Jack Up Holding Ltd., Seadrill Jack Up I B.V., Seadrill Jack Up II B.V., Seadrill Jack-Ups Contracting Ltd., Seadrill Jupiter Ltd., Seadrill Labuan Ltd., Seadrill Management (S) Pte Ltd., Seadrill Management AME Ltd., Seadrill Management Ltd., Seadrill Mimas Ltd., Seadrill Mira Hungary Kft., Seadrill Mira Ltd., Seadrill Neptune Hungary Kft., Seadrill Newfoundland Operations Ltd., Seadrill Nigeria Operations Limited, Seadrill North Atlantic Holdings Limited, Seadrill North Sea Crewing Ltd., Seadrill Norway Crew AS, Seadrill Norway Operations Ltd., Seadrill Offshore AS, Seadrill Offshore Malaysia Sdn. Bhd., Seadrill Offshore Nigeria Limited, Seadrill Operations de Mexico S de R.L. de CV, Seadrill Orion Ltd., Seadrill Pegasus (S) Pte Ltd., Seadrill Prospero Ltd., Seadrill Proteus Ltd., Seadrill Rhea Ltd., Seadrill Rig Holding Company Limited, Seadrill Saturn Ltd., Seadrill Saudi I B.V., Seadrill Saudi II B.V., Seadrill Servicos de Petroleos Ltda., Seadrill Sevan Holdings Limited, Seadrill Telesto Ltd., Seadrill Tellus Ltd., Seadrill Tethys Ltd., Seadrill Titan Ltd., Seadrill Titania Sarl, Seadrill Treasury UK Limited, Seadrill Triton Ltd., Seadrill Tucana Ltd., Seadrill UK Ltd., Seadrill UK Operations Ltd., Seadrill UK Support Services Ltd., Seadrill Umbriel Ltd., Sevan Brasil Ltd., Sevan Developer Ltd., Sevan Driller Ltd., Sevan Drilling Limited, Sevan Drilling North America LLC, Sevan Drilling Pte Ltd., Sevan Drilling Rig II AS, Sevan Drilling Rig II Pte Ltd., Sevan Drilling Rig IX Pte Ltd., Sevan Drilling Rig V Pte Ltd., Sevan Louisiana Hungary Kft., and Sevan Marine Servicos de Perfuracao Ltda at the U. S. Bankruptcy Court for the Southern District of Texas.

Equite Capital Pte Ltd. v. S&P Global Inc. et al: Writ of Summons

February 02, 2021 - Writ of Summons in Equite Capital Pte Limited, of Singapore, described as "the rightful owner of all right, title and interest in claims or causes of action of the Bear Stearns High-Grade Structured Credit Strategies Master Fund Ltd. (In Official Liquidation) and the Bear Stearns High-Grade Structured Credit Strategies Enhanced Leverage Master Fund Ltd. (In Official Liquidation)" v. S&P Global Inc. and Standard & Poor's International LLC, both of New York, NY, USA, at the Grand Court of the Cayman Islands.

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.