Liquidations & Insolvencies

Pareteum Corporation et al: Chapter 11 Bankruptcy Petition

Chapter 11 Petition by Pareteum Corporation, of Delaware; Pareteum North America Corp., of Delaware; Devicescape Holdings Inc., of Delaware; iPass Inc., of Delaware; iPass IP LLC, of Delaware; Pareteum Europe BV, of the Netherlands; Artillium Group Ltd., of England; Pareteum Asia Pte. Ltd., of Singapore, and Pareteum NV, of the Netherlands, collectively part of a group that "is a publicly held, leading edge, global provider of mobile networking software solutions and services for communications service providers and enterprise retail customers" with "operations in North America, Latin America, Europe, Middle East, Africa, and the Asia-Pacific region", at the U.S. Bankruptcy Court for the Southern District of New York.

Quinn Emanuel Urquhart & Sullivan LLP v. Great Mercury Ltd.: Liquidation Application

Originating Application alleging unpaid legal fees incurred while representing PPlive Sports International Limited, described as a subsidiary of Great Mercury Ltd., in a lawsuit brought in England by The Football Association Premier League Limited in Quinn Emanuel Urquhart & Sullivan LLP v. Great Mercury Ltd. at the British Virgin Islands High Court.

IMG Media Ltd. v. Suning Sports Group Ltd.: Winding Up Petition

Winding Up Petition in IMG Media Limited, of London, England, described as being "part of the Endeavor Group, a global sports, events and talent management company" v. Suning Sports Group Limited, described as being "part of the Suning Group, a Chinese retail business", at the Grand Court of the Cayman Islands.

Sunwave Gas & Power Inc.: Chapter 15 Petition

Chapter 15 Petition for Recognition of a Foreign Main Proceeding in Canada by Allan Nackan, of A. Farber & Partners Inc., as the Foreign Representative of Sunwave Gas & Power Inc., filed at the U. S. Bankruptcy Court for the Southern District of New York.

Samir Andrawos v. Damian Gomez et al: TRO Motion

Chapter 11 Trustee's Motion for an order enforcing the automatic stay and granting a preliminary injunction in Lawrence Katz, as Chapter 11 Trustee for the Bankruptcy Estate of Samir Andrawos v. Damian Gomez and Charles Mackay, both lawyers in the Bahamas, at the U. S. Bankruptcy Court for the District of Maryland.

Samir Andrawos v. Damian Gomez et al: Complaint

Complaint to enforce an automatic stay and compel turnover of asset alleging fraudulent transfers and unjust enrichment in Lawrence Katz, as Chapter 11 Trustee for the Bankruptcy Estate of Samir Andrawos v. Damian Gomez and Charles Mackay, both lawyers in the Bahamas, at the U. S. Bankruptcy Court for the District of Maryland.

Modern Land (China) Co. Ltd.: ‘Scheme of Arrangement’ Petition

Petition for the Court's sanction of a Scheme of Arrangement in the matter of Modern Land (China) Co. Limited, described as "the ultimate holding company of a group of companies ... that carries on the business of real estate investment and development in the People's Republic of China, which for the purpose of this petition does not include Hong Kong, Macau and Taiwan", at the Grand Court of the Cayman Islands.

Balanced Energy Oilfield Services Inc. et al: Chapter 15 Petition

Chapter 15 Petition for Recognition of a Foreign Main Proceeding in Canada by Dustin Oliver, as the Foreign Representative of Balanced Energy Oilfield Services Inc., Balanced Energy Holdings Inc., and Balanced Energy Oilfield Services (USA) Inc., which "provide coiled tubing services to national oil companies, energy companies, and independent exploration and production companies in Canada and the United States", filed at the U. S. Bankruptcy Court for the District of North Dakota.

Formation Group Fund I LP: Chapter 11 Petition

Chapter 11 Petition by Formation Group Fund I LP, formerly known as F8 Asia Growth SPV, LP, whose equity holders include entities in the Cayman Islands, England, Singapore, South Korea, and the United States, at the U. S. District Court for the Northern District of California.

Legacy Lifestyles Destin LP et al: Chapter 15 Petition

Chapter 15 Petition for Recognition of a Foreign Main Proceeding in Canada by Allan Rutman, of Zeifman Partners Inc., as the Foreign Representative of Legacy Lifestyles Destin LP, Legacy Lifestyles Destin GP Inc., Legacy Lifestyles Summerlin LP, Legacy Lifestyles Summerlin GP Inc., Legacy Lifestyles Trailwinds LP, Legacy Lifestyles Trailwinds GP Inc., Legacy Lifestyles Ocoee LP, Legacy Lifestyles Ocoee GP Inc., Legacy Lifestyles Longleaf LP, Legacy Lifestyles Longleaf GP Inc., Legacy Lifestyles Destin Property LLC, Legacy Lifestyles Trailwinds Property LLC, Legacy Lifestyles Ft. Myers Property LLC, Legacy Lifestyles Ocoee Property LLC and Legacy Lifestyles Longleaf Property LLC, at the U. S. Bankruptcy Court for the Middle District of Florida.

Technology Investment Consortium LLC v. Position Mobile Ltd. SEZC: Winding Up Petition

Winding Up Petition alleging "the Petitioner has justifiably lost all trust and confidence that the assets and affairs of the Company are being properly managed and mutual trust and confidence between the Petitioner and Genimous Group has irretrievably broken down" in Technology Investment Consortium LLC v. Position Mobile Ltd. SEZC, which "was formed to conduct development and commercialization of mobile internet products", at the Grand Court of the Cayman Islands.

JSC Ingtorgstroy v. Citibank NA et al: Discovery Application

Application by JSC Ingtorgstroy, of Russia, to take discovery from Citibank NA, The Bank of New York Mellon, Société Générale, New York Branch; HSBC Bank USA NA, BNP Paribas USA, JPMorgan Chase Bank NA, Barclays Bank PLC, Deutsche Bank Trust Co. Americas, The Bank of Nova Scotia, New York Agency; UBS AG, Bank of America NA, Standard Chartered Bank US, Commerzbank AG, New York Branch, and The Clearing House Payments Company LLC for use in legal proceedings "against former CEOs and beneficial owners of OJSC "GK Amazarkan", including Pavel Entin and Bogdan Solodukha before the commercial court of Moscow city and the commercial court of Kaluga Region, Russia", filed at the U. S. District Court for the Southern District of New York.

SRC Strategic Resources Ltd. et al: Chapter 15 Petition (‘1MDB Fraud’)

Chapter 15 Petition for Recognition of a Foreign Main Proceeding in the British Virgin Islands by Helen Janes, Angela Barkhouse, and Carl Jackson, as the Foreign Representatives of SRC Strategic Resources Limited, Bright Oriande Limited, and SRC International (Malaysia) Limited, all in Voluntary Liquidation, collectively described as being "part of the fraud perpetrated against 1 Malaysia Development Berhad, a sovereign wealth fund owned by the Malaysian Ministry of Finance, in which numerous entities and individuals formed a network to divert and distribute funds to the fraudsters who orchestrated the fraud and to individuals and/or entities connected to them", at the U. S. Bankruptcy Court for the Southern District of Florida.

Point Investments Ltd.: Chapter 15 Petition

Chapter 15 Petition for Recognition of a Foreign Main Proceeding in Bermuda by Andrew Childe, Richard Lewis, and Matthew Clingerman, as the Foreign Representatives of Point Investments Ltd., a Bermuda company whose ultimate beneficiaries include Robert Brockman, a businessman in the United States who is currently awaiting trial for an alleged $2 billion tax fraud scheme involving Point Investments and other entities in Bermuda, British Virgin Islands, Cayman Islands, Nevis, and Switzerland, filed at the U. S. Bankruptcy Court for the District of Delaware.

UK Secured Finance Fund Plc et al v. CFSL Ltd.: Judgment

Judgment that "CFSL acted in breach of contract and failed to exercise reasonable skill and care in both contract and tort" regarding its management of UK Secured Finance Fund Plc in UK Secured Finance Fund Plc (in Liquidation) and UKSFF Subsidiary Limited v. CFSL Limited at the Isle of Man High Court.

Jeremy Beck v. MV Cayman Ltd.: Amended Winding Up Petition

Amended Winding Up Petition in Jeremy Beck v. MV Cayman Ltd., formerly (formerly HHG Cayman Ltd.), whose "main asset is ... a strata condominium and hotel resort formerly known as the Margaritaville Beach Resort and Spa, West Bay Road, Grand Cayman, Cayman Islands", at the Grand Court of the Cayman Islands.
SPI Investment Fund

Swiss asset manager Marc-André Pépin accused of fraud by Cayman’s SPI Investment Fund

In a winding-up petition, Swiss investment manager Marc-André Pépin has been accused of "fraudulent misconduct and mismanagement" by Cayman Islands-domiciled SPI Investment Fund SPC, whose investors' funds have allegedly ended up in questionable arrangements with entities operated by Prudent Group, Dennis Klemming, and Jacob Gitman, all of Miami, Florida.

Adenium Energy Capital Ltd.: $1.2M Fine

Decision Notice by the Dubai Financial Services Authority imposing a fine of $1.2 million on Adenium Energy Capital Ltd. (in Official Liquidation), described as a Cayman Islands company that "secured and developed solar energy Projects in a number of countries, including Jordan, Japan, Egypt and Italy", for regulatory breaches, including "carrying on unauthorised financial services", "making unauthorised financial promotions", and "offering fund units" without authorization.

Adenium Energy Capital Advisors Ltd.: $96K Fine

Decision Notice by the Dubai Financial Services Authority imposing a fine of $96,484 on Adenium Energy Capital Advisors Limited (in Official Liquidation), of Dubai, in the United Arab Emirates, for regulatory breaches.

U.S.J. – Açúcar e Álcool SA et al: Chapter 15 Petition (Brazil)

Chapter 15 Petition for Recognition of a Foreign Main Proceeding in São Paulo, Brazil by Renato Carvalho do Nascimento, as the Foreign Representative of U.S.J. - Açúcar e Álcool SA, Agro Pecuária Campo Alto S.A., and Companhia Agrícola São Jerônimo, described as being part of a group that "is a leading sugar and ethanol producer in the Center-South region of Brazil", filed at the U. S. Bankruptcy Court for the Southern District of New York.

Jeremy Beck et al v. MV Advisory Ltd.: Order Appointing New Liquidators

Order releasing Eleanor Fisher and Tammy Fu as Joint Official Liquidators and appointing Karen Scott and Russell Homer, of Chris Johnson Associates Ltd., as Joint Official Liquidations in a case involving Margaritaville Beach Resort and Spa in Jeremy Beck, Emile van den Bol, Chris van den Bol, Lorraine Cona, iDream International Development Real Estate Asset Manager Ltd., Parham Cayman Properties Ltd., Sre-Supre Real Estate Ltd., Perpetual Breezes Ltd., Christopher Kearney, Grace Kearney, all of the Cayman Islands; Meryl Robertson, Jeffrey Saltiel, both of New York, NY, and Gabriel Schwartz, of Denver, CO v. MV Advisory Ltd. at the Grand Court of the Cayman Islands.

Adrian Hyde et al v. Gregory King: Judgment

Judgment regarding an application to prevent an automatic discharge from bankruptcy in Adrian Hyde and Edgar Lavarello, as Joint Trustees of Gregory King v. Gregory Hugh Colin King at Gibraltar Supreme Court.

Atlas Financial Holdings Inc.: Chapter 15 Petition

Chapter 15 Petition for Recognition of a Foreign Main Proceeding in the Cayman Islands by Scott D. Wollney, as the Foreign Representative of Atlas Financial Holdings Inc., described as "a financial service holding company for a number of direct and indirect subsidiaries that operate in the commercial automobile insurance sector in the United States, with a highly specialized market orientation and focus on insurance for the “light” commercial automobile sector, including taxi cabs, limousine/livery, business auto, and historically non-emergency paratransit, as a technology and analytics-driven managing general agency", at the U. S. Bankruptcy Court for the Southern District of New York.