Jersey

Crown Managed Accounts SPC et al v. Puerto Rico Industrial Development Corporation et al: Complaint (‘$90M Bonds Default’)

Complaint "to end the Oversight Board and AAFAF’s abuse of power, and PRIDCO's inexcusable refusal to pay its debts" allegedly totaling $90.5 million in Crown Managed Accounts SPC - Crown/GT Segregated Portfolio, of the Cayman Islands; Ginkgo Tree LLC, GN3 SIP Limited, of Jersey, in the Channel Islands; GoldenTree Distressed Fund 2014 LP, of the Cayman Islands; GoldenTree Distressed Master Fund 2014 Ltd., of the Cayman Islands; GoldenTree Insurance Fund Series Interests of The Sali Multi-Series Fund LP, GoldenTree Master Fund Ltd., of the Cayman Islands; GoldenTree V1 Master Fund LP, of the Cayman Islands; GTAM 110 Designated Activity Company, of Ireland, and High Yield and Bank Loan Series Trust, of the Cayman Islands v. Puerto Rico Industrial Development Corporation, The Puerto Rico Fiscal Agency and Financial Advisory Authority, and The Financial Oversight and Management Board for Puerto Rico at the U.S. District Court for the District of Puerto Rico.

Quotient Ltd.: Chapter 11 Petition

Chapter 11 Petition by Quotient Limited, described as a Jersey, Channel Islands-domiciled company based in Switzerland, filed at the U.S. Bankruptcy Court for the Southern District of Texas.

Christopher Byrne: Disqualification

Public Statement by the Jersey Financial Services Commission that it has imposed a corporate disqualification on Christopher Paul Byrne, who was sentenced to "a seven year custodial sentence" in 2018 after being "convicted of several offences relating to his conduct as a financial adviser".

Lloyds Bank Corporate Markets Plc: £498K Fine

Public Statement by the Jersey Financial Services Commission that it has imposed a fine of £498,000 on Lloyds Bank Corporate Markets Plc (Jersey Branch) for regulatory breaches.

Golden Sphinx Ltd.: Chapter 15 Petition (Jersey)

Chapter 15 Petition for Recognition of a Foreign Main Proceeding in Jersey, in the Channel Islands, by Andrew Wood, as the Foreign Representative of Golden Sphinx Limited, described as a "passive investment-holding" vehicle whose ultimate beneficiaries are Alexander Sabadash, "formerly an elected Senator in Russia", his wife, Larisa Sabadash, and their two adult children and whose "principal assets" are a $45 million residence in Beverly Hills, California, and "certain debts from various parties", including Garry Itkin, described as a former director of the debtor who "engaged in fraudulent and unauthorized self-dealing actions", filed at the U.S. Bankruptcy Court for the Central District of California.

USA v. Airbus A319-100 Aircraft: Seizure Warrant Application (‘Russian oligarch Andrei Skoch’)

Application for Seizure Warrant in USA v. Airbus A319-100 Aircraft, which was "purchased ... through a series of shell companies and trusts" in Aruba, Belize, Cyprus, and Jersey, in the Channel Islands involving accounts in England, Isle of Man, Switzerland, and USA and in which "an interest" is allegedly held by Andrei Skoch, described as "a member of Russia's State Duma" since 1999 and "a Deputy of the Duma", filed at the U.S. District Court for the Southern District of New York.

IQ EQ (Jersey) Ltd.: £803K Fine

Public Statement by the Jersey Financial Services Commission that it has imposed a fine of £803,661 on IQ EQ (Jersey) Limited, formerly known as First Names (Jersey) Limited, for regulatory breaches.

USA v. ‘Roman Abramovich airplanes’: Seizure Application ($410M)

Seizure Application for two airplanes worth $410 million allegedly beneficially owned by Roman Abramovich, a citizen of Russia, "through a series of shell companies" in the British Virgin Islands, Cyprus, and Jersey, in the Channel Islands, in USA v. Boeing 787-8 Dreamliner Aircraft and Gulfstream G650ER Aircraft at the U.S. District Court for the Southern District of New York.

SEC v. Ronald Bauer et al: Complaint

Complaint alleging securities fraud involving individuals and entities in or from Belize, Bulgaria, Canada, Cayman Islands, Chile, Cyprus, Germany, Hong Kong, Hungary, Italy, Jersey, in the Channel Islands; Liechtenstein, Monaco, Singapore, Spain, Switzerland, United Kingdom, and USA in U. S. Securities and Exchange Commission v. Ronald Bauer, Craig James Auringer, Alon Friedlander, Massimilano Pozzoni, Daniel Mark Ferris, Petar Dmitrov Mihaylov, David Sidoo, and Adam Christopher Kambeitz at the U. S. District Court for the Southern District of New York.

Arkansas Teacher Retirement System v. Clarivate Plc et al: Class Action Complaint

Class Action Complaint alleging securities fraud bleichmarin Arkansas Teacher Retirement System v. Clarivate Plc, described as "an information services and analytics company" domiciled in Jersey, in the Channel Islands, and based in London, England; Jerre Stead, Richard Hanks, Sheryl von Blucher, Kosty Gillis, Balakrishnan S. Iyer, Nicholas Macksey, Anthony Munk, Jane Okun Bomba, Charles J. Neral, Richard W. Roedel, Christine Archbold, Citigroup Global Markets Inc., BofA Securities Inc., RBC Capital Markets LLC, Barclays Capital Inc., HSBC Securities (USA) Inc., JPMorgan Securities LLC, and PricewaterhouseCoopers LLP at the U. s. District Court for the Eastern District of New York.

Nebahat Evyap İşbilen v. Standard Chartered Bank et al: Discovery Application (‘£40M Fraud’)

Application by Nebahat Evyap İşbilen, described as a 76-year-old "Turkish national resident in the United Kingdom", to take discovery from Standard Chartered Bank, Citigroup Inc. d.b.a. Citibank; Bank of New York Mellon Corporation, JP Morgan Chase Bank N.A., Goldman Sachs and Co., Bank of America N.A., Deutsche Bank A.G., Deutsche Bank Trust Company Americas, HSBC Bank, Société Générale, and M&T Bank Corporation for use in legal proceedings in England against entities in the British Virgin Islands, Cayman Islands, England, Jersey, in the Channel Islands, and United Arab Emirates regarding "a multinational fraud committed against her by Mr. Selman Turk", filed at the U. S. District Court for the Southern District of New York.

Jameena Ltd. et al v. Andrew Turner et al: Writ of Summons

Writ of Summons in Jameena Limited, of Jersey, in the Channels Islands, and Hassanco SA v. Gary Spiller, of Spain; Andrew Turner, Samuel Knowles, Conrad Nunez, Richard Niguid, Ricardo Fiorilli Lozano, and Michelle Baquit, all of France, at the Grand Court of the Cayman Islands.

Kevin Parot v. Clarivate Plc et al: Class Action Complaint

Class Action Complaint in Kevin Parot v. Clarivate Plc, described as "an information services and analytics company" based in London, England, and domiciled in Jersey, in the Channel Islands; Jerre Stead, and Richard Hanks at the U. S. District Court for the Eastern District of New York.

Ryan O’Dell v. Mimecast Ltd. et al: Complaint

Complaint in Ryan O'Dell v. Mimecast Limited, described as a Jersey, Channel Islands-domiciled, London-based company that "provides cloud security and risk management services for corporate information and email"; Peter Bauer, Aron Ain, Helene Auriol Potier, Alpna J. Doshi, Christopher Fitzgerald, Neil Murray, Robert P. Schechter, Hagi Schwartz, and Stephen Ward at the U. S. District Court for the Southern District of New York.

Solon Director (Malta) Ltd.: €2.5K Fine

Public Notice by the Malta Financial Services Authority that it has imposed a fine of €2,500 on Solon Director (Malta) Limited for a regulatory breach.

Hunters Investments Ltd. v. Sanne Holdings Ltd. et al: Judgment

Judgment granting an application to remove Carey Olsen as legal representatives of four of the five defendants due to a conflict of interest in a case regarding allegations of fraud involving the valuation of Sanne Holdings Limited and Sanne Fiduciary Services Limited in Hunters Investments Limited v. Geoffrey Crill, Simon Young, Peter Machon, Sanne Holdings Limited, Sanne Fiduciary Services Limited, formerly known as Sanne Trust Company Limited, at the Royal Court of Jersey, in the Channel Islands.

Jersey: James Patrick Gorton Baker

Application for the appointment of a Commissioner to collect evidence from Bank of America - pursuant to a request for judicial assistance from Jersey, in the Channel Islands - for a criminal investigation into James Patrick Gorton Baker for suspected money laundering involving the proceeds of an "investment scam".

JSC BTA Bank v. Bank of America et al: Discovery Application (‘$7.5B Fraud’)

Application by JSC BTA Bank, of Kazakhstan, to take discovery from The Clearing House Payments Company LLC and "thirteen intermediary banks", namely Bank of America NA, Bank of China, The Bank of New York, BNP Paribas USA, Citibank NA, Commerzbank AG, Deutsche Bank Trust Company, HSBC Bank USA NA, JPMorgan Chase Bank NA, Société Générale AG, Standard Chartered Bank, UBS AG, and Wells Fargo Bank NA regarding Saint Vincent and the Grenadines-domiciled Panolos Limited for use in legal proceedings in England "against BTA Bank's former chairman, and primary shareholder, Mukhtar Ablyazov, upon BTA Bank's discovery that Ablyazov had illegally misappropriated as much as $7.5 Billion of BTA Bank’s assets and subsequently laundered the proceeds through multiple financial institutions all over the world", filed at the U. S. District Court for the Southern District of New York.

Apex Financial Services (Trustees) Ltd. v. Wiggin Osborne Fullerlove: Complaint

Complaint for damages of £353,002 alleging professional negligence involving 'Inheritance Tax' liabilities of a trust settled by Lance Uggla, described as a "UK resident but foreign domiciled for income and capital gains tax purposes", in Apex Financial Services (Trustees) Ltd., of Jersey, in the Channel Islands v. Wiggin Osborne Fullerlove, a law firm based in Cheltenham, Gloucestershire, England, at the High Court of Justice for England and Wales.

WPP Plc: $22M Penalties

Administrative Order by the U. S. Securities and Exchange Commission imposing penalties totaling $22.5 million on WPP Plc, described as "the world's largest advertising group" that is domiciled in Jersey, in the Channel Islands; headquartered in London and New York City, and whose shares are listed on the New York Stock Exchange for alleged violations of "the anti-bribery, books and records, and international accounting controls provisions of the Foreign Corrupt Practices Act" involving its subsidiaries in Brazil, China, India, and Peru.

Hawksford Trust Company Jersey Ltd.: Public Statement

Public Statement by Jersey Financial Services Commission that it has "concluded" that Hawksford Trust Company Jersey Limited "breached certain principles" of the Financial Services (Trust Company Business (Assets - Customer Money)) (Jersey) Order 2000 and Code of Practice for Trust Company Business. Editor's Note: Research by OffshoreAlert in the Jersey corporate register showed that Hawksford Trust Company Jersey Limited was incorporated in Jersey on August 8th, 1963 and, in its 2020 annual return, signed by director Darren Kelland, its sole shareholder was identified as Hawksford Group Holdings Limited, which was incorporated in Jersey on May 15th, 2017 and, in its 2020 annual return, its sole shareholder was identified as Hawksford Holdings Limited, which was incorporated in Jersey on August 12th, 2008 and, in its 2020 annual return, its shareholders were identified as Dunedin Buyout Fund II LP, a private equity fund in Scotland; Dunedin (SAPE) GP Nominees Limited, acting as nominee for Equity Harvest Fund LP, of Scotland; Michael Edmund Powell, Louis Philip Chetwynd Taylor, James Webster Howe, Boota Singh Kular, Stephen David John Spybey, all of Jersey; Jacqueline Anne Low, of Singapore; Matthew Andrew Wilkinson, Daniel Richard Hainsworth, Gerardus Jan Michel van Leeuwen, Stephen Spybey and Gerardus van Leeuwen, as Trustees of the Hawksford Holdings Limited EBTl Darren Thomas Kelland, all of Jersey; Stefano Passarello, of Hong Kong; Dario Acconci, of Singapore; Marta Giordano, of Hong Kong; Giacomo Stoppa, of Hong Kong; Peter Zhu, of China, and Aldford Street Nominees Limited, of England.

Zuca Properties LLC: Chapter 11 Petition

Chapter 11 Petition by Zuca Properties LLC, a Delaware company based in Geneva, Switzerland, that "was established to acquire property investments", at the U. S. Bankruptcy Court for the Southern District of New York. The seven largest unsecured creditors, with claims totaling more than $55 million, include those based in Brunei Darussalam, Jersey, in the Channel Islands; Luxembourg, Switzerland, and the United States.

Gufur Hussain: Industry Ban

Public Statement by the Jersey Financial Services Commission announcing it has imposed a financial industry ban on Gufur Hussain, a.k.a. Ghafoor Hussain, for "a lack of integrity".

Beauregarde Holdings LLP et al v. The Province of La Rioja: Complaint

Complaint alleging the default of bond payments in Beauregarde Holdings LLP, of England; Beauregarde Holdings II LLP, Crown Managed Accounts SPC - Crown/GT Segregated Portfolio, of the Cayman Islands; GN3 SIP Limited, of Jersey, in the Channel Islands; GoldenTree Co-Invest Master Fund II Ltd., of the Cayman Islands; GoldenTree Credit Opportunities Master Fund Ltd., of the Cayman Islands; GoldenTree Emerging Markets Master Fund ICAV, of Ireland; GoldenTree Insurance Fund Series Interests of the SALI Multi-Series Fund, L.P., of Delaware; GoldenTree Master Fund, Ltd., of the Cayman Islands; GoldenTree Multi Sector-C LP, of Delaware; GoldenTree V1 Master Fund, L.P., of the Cayman Islands; GT NM, L.P., of Delaware; GTAM 110 Designated Activity Company, of Ireland; Guadalupe Fund, LP, of Texas; High Yield And Bank Loan Series Trust, of the Cayman Islands; MA Multi-Sector Opportunistic Fund, LP, of Delaware; Sandglass Opportunity Fund LP, of the Cayman Islands; Sandglass Petrus Opportunity Fund LP, of the Cayman Islands, and Sandglass Select Fund LP, of the Cayman Islands v. The Province of La Rioja, of Argentina, at the U. S. District Court for the Southern District of New York.

Beauregarde Holdings LLP et al v. Buenos Aires: Complaint

Complaint for damages of $30 million alleging the default of bonds in Amia Capital Macro Master Fund Limited, of the Cayman Islands; Amundi Funds - Emerging Markets Bond, of Luxembourg; Amundi Investment Funds - Emerging Markets Sovereign Bond, of Luxembourg; Caius Capital Master Fund, of the Cayman Islands; Corbin ERISA Opportunity Fund, Ltd., of the Cayman Islands; Crown Managed Accounts SPC - Crown/GT Segregated Portfolio, of the Cayman Islands; FS Credit Income Fund, of Delaware; GN3 SIP Limited, of Jersey, in the Channel Islands; GoldenTree Co-Invest Master Fund II Ltd., of the Cayman Islands; GoldenTree Distressed Master Fund III Ltd., of the Cayman Islands; GoldenTree Distressed Onshore Master Fund III LP, of Delaware; GoldenTree Emerging Markets Master Fund ICAV, of Ireland; GoldenTree Insurance Fund Series Interests of the SALI Multi-Series Fund, L.P., of Delaware; GoldenTree Master Fund, Ltd., of the Cayman Islands; GoldenTree Multi Sector-C LP, of Delaware; GoldenTree NJ Distressed Fund 2015 LP, of Delaware; GoldenTree VI Master Fund, L.P., of the Cayman Islands; GT Credit Fund LP, of the Cayman Islands; GT G Distressed Fund 2020 LP, of Delaware; GT NM, LP, of Delaware; Guadalupe Fund, LP, of Texas; High Yield and Bank Loan Series Trust, of the Cayman Islands; Kapitalforeningen Industriens Pension Portfolio - Emerging Markets Obligationer I, of Denmark; Louisiana State Employees Retirement System, of Louisiana; MA Multi-Sector Opportunistic Fund, LP, of Delaware; Pinehurst Partners, L.P., of Delaware; San Bernardino County Employees Retirement Association, of California, and Beauregarde Holdings LLP, of England v. The Province of Buenos Aires, in Argentina, at the U. S. District Court for the Southern District of New York.

Amia Capital Macro Master Fund Ltd. et al v. Buenos Aires: Complaint

Complaint for damages of $336 million alleging the default of bonds in Amia Capital Macro Master Fund Limited, of the Cayman Islands; Amundi Funds - Emerging Markets Bond, of Luxembourg; Amundi Fondi Italia - Amundi Obbligazionario Paesi Emergenti a distribuzione, of Italy; Amundi Funds - Emerging Markets Blended Bond, of Luxembourg; Amundi Funds - Emerging Markets Hard Currency Bond, of Luxembourg; Amundi Funds - Emerging Markets Short Term Bond, of Luxembourg; Amundi Funds - Strategic Bond, of Luxembourg; Fondi Amundi - Amundi Obbligazionario Dinamico, of Italy; Amundi Funds - Optimal Yield Short Term, of Luxembourg; Amundi S.F. - Emerging Markets Bond 2024, of Luxembourg; Amundi S.F. - Emerging Markets Bond 2025, of Luxembourg; Caius Capital Master Fund, of the Cayman Islands; Callaway Strategic Opportunity Fund I, LP, of the Cayman Islands; BayernInvest Alternative Loan Fonds-Segment GoldenTree 2, of Luxembourg; Corbin ERISA Opportunity Fund, Ltd., of the Cayman Islands; Crown Managed Accounts SPC - Crown/GT Segregated Portfolio, of the Cayman Islands; FS Credit Income Fund, of Delaware; Ginkgo Tree, LLC, of Delaware; GN3 SIP Limited, of Jersey, in the Channel Islands; GoldenTree Co-Invest Master Fund II Ltd., of the Cayman Islands; GoldenTree Distressed Master Fund III Ltd., of the Cayman Islands; GoldenTree Distressed Onshore Master Fund III LP, of Delaware; GoldenTree Emerging Markets Master Fund ICAV, of Ireland; GoldenTree Insurance Fund Series Interests of the SALI Multi-Series Fund, L.P., of Delaware; GoldenTree Master Fund, Ltd., of the Cayman Islands; GoldenTree Multi Sector-C LP, of Delaware; GoldenTree NJ Distressed Fund 2015 LP, of Delaware; GoldenTree Vl Master Fund, L.P., of the Cayman Islands; GT Credit Fund LP, of the Cayman Islands; GT G Distressed Fund 2020 LP, of Delaware; GT NM, LP, of Delaware; Guadalupe Fund, LP, of Texas; High Yield and Bank Loan Series Trust, of the Cayman Islands; Kapitalforeningen Industriens Pension Portfolio - Emerging Markets Obligationer I, of Denmark; Louisiana State Employees Retirement System, of Louisiana; MA Multi-Sector Opportunistic Fund, LP, of Delaware; Pinehurst Partners, L.P., of Delaware; San Bernardino County Employees Retirement Association, of California; Greylock Global Opportunity Master Fund, Ltd., of the British Virgin Islands; Greylock Global Focus Master Fund, Ltd., of the Cayman Islands; Beauregarde Holdings LLP, of England; Beauregarde Holdings II LLP, of England, and Mandrake Holdings, LLC, of Delaware v. The Province of Buenos Aires, in Argentina, at the U. S. District Court for the Southern District of New York.

Buenos Aires sued by investors for ‘$366M bonds default’

The Province of Buenos Aires, in Argentina, is being sued for allegedly defaulting on bonds totaling $366 million by investment vehicles in the British Virgin Islands, Cayman Islands, Delaware, Denmark, England, Ireland, Italy, Jersey, and Luxembourg.

BetIndex Ltd.: Ex Tempore Judgment

Ex Tempore Judgment regarding an application to issue a letter of request for assistance to the High Court of Justice, for England and Wales, regarding BetIndex Limited, described as an insolvent company that "was formed in 2015 in order to create and operate an innovative form of online gambling product which is the called the Football Index", at the Royal Court of Jersey, in the Channel Islands.

Sukhbaatar Batbold v. K2 Intelligence: Discovery Application

Application by Sukhbaatar Batbold, described as "a former Prime Minister of Mongolia (from 2009-2012) and a current member of the Mongolian Great Khural (Parliament", to take discovery from K2 Intelligence, a.k.a. K2 Integrity, described as a "New York-based investigative firm", for use in "proceedings in Mongolia, the United Kingdom, the Bailiwick of Jersey, the Republic of Singapore, and the Hong Kong Special Administrative Region of the People's Republic of China" involving "allegations that Mr. Batbold engaged in official corruption and expropriated Mongolian government property through a network of his proxies", filed at the U. S. District Court for the Southern District of New York.