United Arab Emirates

Porton Capital Inc. v. Margaret Hamburg: Discovery Application

Application by Porton Capital Inc., of the Cayman Islands, to take discovery from Margaret A. Hamburg, MD, described as "Commissioner of Food and Drugs for the United States Food and Drug Administration", for use in legal proceedings in England "against 3M UK Holdings Limited", filed at the U. S. District Court for the District of Maryland.

In the Matter of GT One

Petition by ExecuJet Middle East LLC to wind up GT One at the Grand Court of the Cayman Islands.

KTC v. Rodric David et al: Writ of Summons

Writ of Summons and Statement of Claim in KTC v. Rodric David, Nikolaos Mavromanolakis, Naveen David Singh, Singh Investments Limited, and Emergent Capital Limited at the Grand Court of the Cayman Islands.

Bashar Issa: Chapter 15 Petition

Chapter 15 Petition for Recognition of a Foreign Main Proceeding in the United Kingdom by Kevin Mawer, as the Foreign Representative of Bashar Issa, at the U. S. Bankruptcy Court for the Western District of New York.

JSC BTA Bank: Chapter 15 Petition

Chapter 15 Petition for Recognition of a Foreign Main Proceeding in Kazakhstan by Anvar Galimullaevich Saidenov, as the Foreign Representative of JSC BTA Bank, at the U. S. Bankruptcy Court for the Southern District of New York.

Kaupthing Bank hf.: Chapter 15 Petition

Chapter 15 Petition for Recognition of a Foreign Main Proceeding in Iceland by Olafur Gardarsson, as the Foreign Representative of Kaupthing Bank hf., at the U. S. Bankruptcy Court for the Southern District of New York.

Pakistan national tells of ‘hell’ as an expatriate banker in Dubai

A less-than-flattering account of life as a foreigner in one of the world's fastest-growing markets - Dubai - has been given in a complaint filed in the United States by an expatriate banker. Dubai is severely criticized as a place to live and work in a civil complaint filed by Rafatul Islam Usmani Imtiaz Ahmed, a Pakistani national residing in Dubai, at the U. S. District Court for the Southern District of Florida on June 2, 2008.

Letter from Bermuda: A sign of the times? Bermuda’s main insurance conference moves to Dubai

The month of March, 2008 may be viewed by history as the beginning of the demise of the Bermuda insurance market. A 60-year growth pattern, the envy of every other country in the world, is now threatened by short-sightedness and greed on the part of the Bermuda Government. Insurance executives are talking openly about "voting with their feet" as the only way of dealing with the Government's rapaciousness. If they leave, Bermuda will be up against it.Two major events marked the month. First, the World Insurance Forum, a Bermuda event since its inauguration in 1994, an event organised by Bermuda people, voted with its feet and was held in Dubai, in a tent. The Forum is a world-beating franchise that allows very senior insurance people to come together every two years to thrash out major issues. It is the insurance equivalent of the World Economic Forum, held in Davos. Attracting people to Bermuda in the spring is not a difficult task, and the Forum apparently attracted up to 750 attendees.

France: Elie Nahas et al

Application for the appointment of a Commissioner to collect evidence for a criminal investigation in France into Elie Nahas, Antoine Medawar, Anthony Abdelnour, Antoine EI Khoury, Charbel Chidiac, Sabrina Samari, Eleonore Desberceaux, Sabine Abdelnour, Michael Ofsowitz, a.k.a. Michael Martini; Cornelia Suss and others for suspected involvement in international human trafficking and prostitution, primarily through 'Style Modeling Agency'.

Cyprus: Lykourgos Kyprianou

Application for the appointment of a Commissioner to collect evidence for a criminal investigation in Cyprus into Lykourgos Kyprianou and AmerisSoft Corporation for alleged securities fraud.

Dubai takes action over ‘unauthorized’ promotion of Cayman-domiciled fund

Regulators in Dubai have taken action against a British national for promoting a Cayman Islands-domiciled, Iran-focused investment fund in the jurisdiction without authorization.The Dubai Financial Services Authority has accepted an enforceable undertaking from Rupert Neil Bumfrey, 52, concerning his activities in the Dubai International Financial Centre.

Insider Talking: October 11, 2007

The U. S. Commodity Futures Trading Commission has announced that its Division of Enforcement was awarded “a record total of more than $540 million in civil monetary penalties, restitution, and disgorgement from respondents and defendants in actions involving fraud, manipulation, and other misconduct” for its fiscal year ended September 30, 2007; In other regulatory news, here's a list of actions taken recently by regulators in offshore financial centers; and Microsoft Corp. has become the latest big company to sue a business, purportedly domiciled in the Cayman Islands, that registers and warehouses domain names that are confusingly similar to registered Trademarks of established enterprises.

Joseph P. LaSala, et al v. Bank of Cyprus: Complaint

Complaint in Joseph P. LaSala and Fred S. Zeidman, as Co-Trustees of the AremisSoft Corporation Liquidating Trust, v. Bank of Cyprus at the U. S. District Court for the Southern District of New York.

Newt Utopia: St. Kitts & Drug Trafficking

St. Kitts: Noel Heath and Glenroy Matthew finally extradited to USA; Costa Rica: New tax bill on its way to becoming law; Anguilla: New laws passed dealing with insurance, protected cell companies and mutual funds; Dubai: Dubai International Financial Centre issues first hedge fund license.

Norwegian ‘fraud victims’ seek evidence from NY attorney

Forty-six Norwegian parties are seeking evidence from a New York attorney as part of an attempt to recover millions of dollars allegedly defrauded from them in an investment scam.They filed a motion for the issuance of letters rogatory at the U. S. District Court for the Eastern District of New York, in Brooklyn, on November 18, 2005.

Newt Utopia: The tale of Jawad Mahmoud Hashim

Jawad Mahmoud Hashim has a doctorate in Economics from the London School of Economics and, by all accounts, he is a smooth and very sophisticated individual who has kept his head while many around him lost theirs.

France: Jean-Pierre Chariou et al

Application for the appointment of a Commissioner to collect evidence for a criminal investigation in France into Jean-Pierre Chariou and others for the alleged production and circulation of counterfeit currency.

Reorganization continues at scandal-plagued Imperial Consolidated

Michael Gilbert, who was severely criticized by a New Zealand judge in a recent court ruling (see separate story), is part of a reorganization that involves the Imperial Consolidated Group and companies with the prefix 'Alpha'.The firm that he is a director of changed its name from Imperial Consolidated (New Zealand) Ltd. to Alpha Equities Asia-Pacific (NZ) Ltd. on November 29, 2001.

United Kingdom: Stephen Anthony Trutch et al

Application for the appointment of a Commissioner to collect evidence for a criminal investigation in the United Kingdom into alleged fraud, money laundering and perjury concerning Stephen Anthony Trutch and Jeanne Mary Trutch.