Argyle Funds SPC

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Citing ‘immunity’, rain forest organization ITTO refuses to pay Cayman damages award

An intergovernmental organization established by the United Nations to protect rain forests is refusing to satisfy a $97,000 damages award in the Cayman Islands for obstructing the liquidation of swindled Ardent Harmony Fund, in which it is the biggest investor. The Japan-based International Tropical Timber Organization is claiming 'government immunity'.

UN-sponsored ITTO faces $12M loss in Cayman ‘fraud’

The International Tropical Timber Organization, which was established by the United Nations to protect rain forests, is one of the biggest victims of an apparent fraudulent scheme involving hedge funds in the Cayman Islands, an investment manager in Barbados and factoring firms in New York.

Argyle Funds & Ardent Harmony Fund go into liquidation, $89m at risk

A Cayman fund group set up by Barbados-based Canadian attorney Jeffrey Lipton has collapsed, putting US$89m of investors' funds at risk. Argyle Funds SPC, ARC (Euro) Fund, ARC (USD) Fund, and Ardent Harmony Fund went into liquidation apparently due to problems with loans of approximately $40m to NY-based factoring firm RMP Capital Corp.

LVAR, L.P. v. Bermuda Commercial Bank Ltd. et al: Complaint

Complaint in LVAR, L.P. v. Bermuda Commercial Bank Limited, BCB Paragon Trust Limited, formerly BCB Trust Company Limited; Neil de ste Croix, Andrew Peat Finanz Consultants GmbH, a.k.a. Andrew Peat Group Holdings; Andrew Peat, Stanley Chesed, and Profco International, a.k.a. Chesed Financial at the U. S. District Court for the Southern District of New York.