Andrew Wood

Public Notice by the Guernsey Financial Services Commission that GBG Insurance Limited has gone into administration, nine months after its directors informed the FSC that "they had discovered that assets shown in the accounts representing many millions of pounds did not actually exist".

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.

News Release by the Guernsey Financial Services Commission that it has successfully applied for the administration of VTBC Asset Management International Limited "in order to protect the interests of investors and the reputation of the Bailiwick as a financial centre given the ongoing impact of sanctions resulting from the Russo-Ukrainian war".

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.