Liquidations & Insolvencies

Details about the collapse of First Cayman Bank

Two loans - one of more than $5 million to the owner and another of about $10 million to Texas oil-man Tom Hajecate - form a major part of the Cayman Islands Monetary Authority inquiry into the collapse of First Cayman Bank, Offshore Alert can reveal. These and further details about the bank's financial problems have emerged over the last few days - a period in which this newsletter has been threatened with legal action by government minister McKeeva Bush, who is a director of First Cayman, and warned by his lawyer that we faced criminal prosecution if we continued to pursue the story.

Bankruptcy action in Cayman against Peter Kruger

Four years after filing an apparently false bankruptcy in Switzerland, Swiss national Peter Kruger is again subject to bankruptcy proceedings - this time in his adopted home of the Cayman Islands.

Werner Rey hearing postponed

The Bahamas Appeal Court has postponed a hearing into the appeal by Swiss businessman Werner Rey against his extradition to Switzerland. Proceedings had been scheduled to begin on May 26.Rey is appealing a Bahamas Supreme Court decision in April to extradite him to his homeland, where he is wanted on charges of fraud, forgery and bankruptcy offences in connection with the Omni group, which collapsed in 1991 with losses exceeding SwFr1 billion.

Kruger faces second extradition warrant

Swiss national Peter M. Kruger, who cost Credit Suisse, Swiss Bank and others millions of dollars, has been re-arrested in the Cayman Islands on an extradition warrant from Switzerland just six months after his original extradition arrest had been thrown out by the Cayman courts.

Peter Kruger gives up extradition fight in Cayman

Swiss national Peter Kruger, who is wanted in Switzerland on charges of filing a false bankruptcy of US$270 million, has given up his long fight against extradition from the Cayman Islands and has said he will voluntarily return to his homeland in the "very near future".

Adrian Finance Limited

Adrian Finance Limited - Enforcement Actions - Isle of Man Financial Supervision Commission

Admatec Corporation Inc.

Admatec Corporation Inc. - Enforcement Actions - Isle of Man Financial Supervision Commission

Authority Limited

Authority Limited - Enforcement Actions - Isle of Man Financial Supervision Commission

Asset Management Limited

Asset Management Limited - Enforcement Actions - Isle of Man Financial Supervision Commission