British Virgin Islands

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1MDB liquidators file second BVI lawsuit against Amicorp & CEO Toine Knipping, seek $1B+ for ‘knowing participation in fraud’

December 23, 2024
The liquidators of former Malaysian sovereign wealth fund 1MDB have filed a second lawsuit in the British Virgin Islands against Hong Kong-based corporate services provider Amicorp Group and its Dubai-based CEO, Toine Knipping, this one seeking damages in excess of $1 billion for alleged "knowing participation" in a multi-billion dollar fraud. Amicorp issued a statement that it "strongly denies the allegations".

‘1MDB liquidators file $1B+ BVI lawsuit against Amicorp & CEO Toine Knipping for alleged fraudulent trading’ (Plaintiffs’ Press Release)

December 23, 2024
Press Release headlined "1MDB launches claim against Amicorp Group for facilitating over $7 billion in fraudulent transactions", issued on behalf of the plaintiffs by Bryan Wang, of Byfield Consultancy. OffshoreAlert has been told that this action is an addition to a prior claim alleging dishonest assistance that was filed against Amicorp parties at the same court on June 23rd, 2024 and which, according to Byfield Consultancy, is still active.

Aabar Investments PJS Ltd. et al v. Amicorp B.V.I. Ltd. et al: Claim Form (‘Knowing Participation in $7.65B 1MDB Fraud’)

December 20, 2024
Claim Form alleging the respondents "knowingly participated" in an alleged $7.65 billion fraud committed by their clients against "a now-insolvent Malaysian sovereign wealth fund" known as 1MDB in Angela Barkhouse and Toni Skukla, as Joint Liquidators of Aabar Investments PJS Limited, SRC International (Malaysia) Limited, and Brazen Sky Limited v. Amicorp B.V.I. Limited, of the British Virgin Islands; Amicorp Management Limited, of the British Virgin Islands; Artemas Wealth Management (Barbados) Ltd., formerly known as Amergeris Wealth Management (Barbados) Ltd., of Barbados; Amicorp Fund Services N.V., of Curaçao; Amicorp Singapore PTE. Ltd., of Singapore; Amicorp Hong Kong Limited, of Hong Kong; Amicorp Limited, of Hong Kong; Amicorp Bank and Trust Limited, of Barbados, and Antonius Rudolphus Wilhelmus Knipping, a.k.a. Toine Knipping, of Dubai, United Arab Emirates, at the British Virgin Islands High Court.

USA v. Trident Corporate Services, Inc. et al: Petition to Serve ‘John Doe’ Summonses (‘Tax Evasion Investigation Into Clients of Trident Trust Group’)

December 17, 2024
Ex Parte Petition by the IRS for Leave to Serve ‘John Doe’ Summonses on TT (USA) Holdings, Inc., Trident Corporate Services, Inc., and Trident Fund Services, Inc. as part of an investigation into suspected tax evasion by clients of Trident Trust Group, filed at the U.S. District Court for the Northern District of Georgia.

USA v. FedEx et al: Petition to Serve ‘John Doe’ Summonses (‘Tax Evasion Investigation Into Clients of Trident Trust Group’)

December 17, 2024
Ex Parte Petition by the IRS for Leave to Serve 'John Doe' Summonses on FedEx Corporation, DHL Express (USA), Inc., United Parcel Service, Inc., the Federal Reserve Bank of New York, The Clearing House Payments Company LLC, HSBC Bank USA, National Association, The Bank of New York Mellon Corporation, Wells Fargo Bank, National Association, Citibank, National Association, UBS AG, Bank of America, National Association, Deutsche Bank Trust Company Americas, and Nevis Services Limited as part of an investigation into suspected tax evasion by clients of Trident Trust Group, filed at the U.S. District Court for the Southern District of New York.

Dubai-based BVI investment firms ‘All Blue’ seek Chapter 15 bankruptcy recognition in U.S. amid investigation into ‘$126M naked short trade losses’

December 16, 2024
The liquidators of Dubai-based, British Virgin Islands-domiciled All Blue Investments North Star 1 Ltd. and All Blue Investment Management Ltd. have filed for Chapter 15 bankruptcy recognition in Miami amid an investigation into losses of $126 million from "improper naked short trades" and the suspected shifting of trading profits to two Cayman Islands affiliates, Red Rowan Investments Ltd. and Washington Muse Investments SPC.

All Blue Investments North Star 1 Ltd. et al: Chapter 15 Petition (British Virgin Islands)

December 13, 2024
Chapter 15 Petition for Recognition of a Foreign Main Proceeding in the British Virgin Islands by Martin Trott and Nathan Mills, both of R&H Restructuring, as the Foreign Representatives of All Blue Investments North Star 1 Ltd. (in Liquidation), described as an investment fund whose liquidators "have received over $125 million in claims filed by Broker-Dealers for improper “naked short trades” made by the Foreign Debtors in further of investment activities", and All Blue Investment Management Ltd. (in Liquidation), filed at the U.S. Bankruptcy Court for the Southern District of Florida.

Probis Financial Services PTY Ltd. v. City Credit Investment Bank Ltd.: Grounds of Judgment (Contested Appointment of Liquidator)

December 10, 2024
Grounds of Judgment appointing Luke Furler as liquidator in Probis Financial Services PTY Limited, of Australia, described as a company in voluntary administration that "carried on business as a financial and insurance service provider" v. City Credit Investment Bank Limited, of Labuan, at the High Court in Sabah and Sarawak at the Federal Territory of Labuan, Malaysia.

Bruna de Souza Haber et al v. Bank of America, N.A. et al: Discovery Application (Brazil)

December 10, 2024
Application by Bruna de Souza Haber, A.H., by her parent Paula Seabra Parisot Guterres, and J.H., by his parent, Paula Seabra Parisot Guterres, to take discovery from Bank of America, N.A., The Bank of New York Mellon, BNP Paribas USA, Citibank N.A., The Clearing House Payments Company LLC, Deutsche Bank AG, the Federal Reserve Bank of New York, HSBC Bank (USA) NA, JPMorgan Chase Bank N.A., Standard Chartered Bank, and Wells Fargo Bank, N.A. "for use in a disputed probate proceeding currently pending in São Paulo, Brazil, for the estate of Roger Clement Haber", who was "a prosperous and prominent figure in Brazil", filed at the U.S. District Court for the Southern District of New York.

Yao Guoliang v. Speed Success Group Ltd.: Winding Up Petition (‘Loss of Confidence’)

December 3, 2024
Winding Up Petition in Yao Guoliang, of Hong Kong v. Speed Success Group Limited, described as a shareholder in Strong Petrochemical Holdings Limited, which is "the listed holding company of a group of subsidiaries and related entities" with "operations in Hong Kong, Mainland China, Macau and Singapore" whose "core business ... is the trading of crude oil, petroleum products and petrochemicals", at the Grand Court of the Cayman Islands.

Hotel Portfolio II UK Ltd. v. Marlborough Developments Ltd. et al: Judgment

November 29, 2024
Approved Judgment in Hotel Portfolio II UK Limited (in Liquidation), as Claimant v. Marlborough Developments Limited, Ozturk 2 Recoveries Limited, and Gerald Martin Smith, as Defendants, and Ozturk 2 Recoveries Limited, Marlborough Developments Limited, Chepstow Property Co. Limited, Bryanna Property Co. Limited, Llanharan Property Co. Limited, SCDS Corporation Inc., Dunedin Holdings Limited, SCDS London Limited, formerly known as Coegi Properties Limited, and Burtonwood Dev. Limited, as Claimants/Respondents v. Andrew Joseh Ruhan, as Defendant/Respondent, and Hotel Portfolio II UK Limited (in Liquidation), as Applicant, at the High Court of Justice of England and Wales.

Bradford Marine v. M/Y Chitochi et al: Complaint (‘$234K Outstanding Invoices’)

November 26, 2024
Complaint in Flyhopco LLC, d.b.a. Bradford Marine, which "operates a boat repair, storage and marina facility on the New River in Broward County, Florida" v. M/Y Chitochi, described "a 30.99m, 2016 Custom Line motor yacht registered in the British Virgin Islands"; M/V Lady D, a.k.a. Wegu the Great', described as "a 48-foot Ria motor vessel"; Grosvenor Marine Ventures Ltd., of the British Virgin Islands, and ADA NTA LLC at the U.S. District Court for the Southern District of Florida.

Maria Penn-Reid et al v. Reginald Penn et al: Claim Form (‘Oppressive Conduct’)

November 23, 2024
Claim Form in Maria Penn-Reid, of Indiana, USA; Jennifer Penn-Shaw, of West Palm Beach, Florida, USA, and Zoraida Gonzalez, of Puerto Rico, as personal representatives of the Estate of Herminio Penn, deceased v. Reginald Penn, Marlene N. Penn, William R. Penn, Bryan H. Penn, Franklyn V. Penn, and H.R. Penn Development Limited at the British Virgin Islands High Court.

ARCISCAP-Celebration Pointe Investment (B.V.I.) Ltd. v. Svein H. Dyrkolbotn et al: Complaint (‘$70M Loan’)

November 22, 2024
Complaint alleging breach of guaranty regarding a $70 million loan in ARCISCAP-Celebration Pointe Investment (B.V.I.) Limited, of the British Virgin Islands v. Svein H. Dyrkolbotn and Patricia A. Shively, individually and as Trustee of the Patricia Ann Shively Amended and Restated Trust, at theCircuit Court of the Ninth Judicial Circuit, in and for Orange County, Florida, USA.

Knighted Pastures LLC v. Ourgame International Holdings Ltd. et al: Complaint (‘Breach of Fiduciary Duty’)

November 12, 2024
Complaint in Knighten Pastures LLC v. Yangyang Li, Yuanfei Qu, Zongmin Ding, Mao Sun, Chi Zhao, Jingsheng Lu, Guanzhou Qin, Yushi Guo, Ourgame International Holdings Ltd., of the Cayman Islands; Primo Vital Ltd., Yellow River Global Capital, of Hong Kong, and Blue Planet New Technology Limited, of the British Virgin Islands, as Defendants, and Allied Gaming & Entertainment Inc., as Nominal Defendant, at the Court of Chancery of the State of Delaware, USA.

FTX sues crypto exchange Binance to clawback $1.8B in ‘fraudulent transfers’

November 11, 2024
FTX - which "may have been insolvent from inception" - has sued rival crypto exchange Binance in an attempt to recover $1.76 billion of "fraudulent transfers" in a dispute whose parties are entities or individuals in Antigua, Bahamas, British Virgin Islands, Cayman Islands, China, Hong Kong, Ireland, and USA.

FTX Trading Ltd. et al v. Binance Holdings Ltd. et al: Complaint (‘$1.8B Fraudulent Transfers’)

November 10, 2024
Complaint in FTX Trading Ltd., of Antigua and Barbuda; Alameda Research LLC, Alameda Research Ltd., of the British Virgin Islands; West Realm Shires Inc., West Realm Shires Services Inc., Clifton Bay Investments LLC, Cottonwood Grove Ltd., of Hong Kong; Euclid Way Ltd., of Antigua and Barbuda; Paper Bird Inc., and FTX Digital Markets Ltd., of the Bahamas v. Binance Holdings Limited, of the Cayman Islands; Binance Capital Management Co. Ltd., of the British Virgin Islands; Binance Holdings (IE) Limited, of Ireland; Binance (Services) Holdings Limited, of Ireland; Changpeng Zhao, Dinghua Xiao, of China; Samuel Wenjun Lim, and Does 1-1000 at the U.S. Bankruptcy Court for the District of Delaware.

FTX Trading Ltd. et al v. Huobi Global Ltd. et al: Complaint (‘$27M Turnover & $30M Disallowance’)

November 9, 2024
Complaint in FTX Trading Ltd., of Antigua and Barbuda, and Alameda Research Ltd., of the British Virgin Islands v. Huobi Global Ltd., of Seychelles; HTX Ltd., of Seychelles; About Capital Management (HK) Co., Ltd., of Hong Kong; Digital Legend Holdings Ltd., of the British Virgin Islands; Hbit Ltd., of Hong Kong; Orange Anthem Ltd., of the British Virgin Islands, and Polo Digital Assets, Ltd., of Seychelles, at the U.S. Bankruptcy Court for the District of Delaware,