BDO

Source One Environmental Ltd.: Chapter 15 Petition

Chapter 15 Petition for Recognition of a Foreign Main Proceeding in England by Mark Robert Thornton, of BDO LLP, as the Foreign Representative of Source One Environmental Limited, described as "a specialist supplier of innovative trenchless technologies to the sewer & drainage repair market"", based in Barnsley, England, at the U. S. Bankruptcy Court for the Eastern District of Michigan.

Cyril Fulton: Chapter 15 Petition

Chapter 15 Petition for Recognition of a Foreign Main Proceeding in Northern Ireland by John Young, of BDO Lindsay House, as the Foreign Representative of Cyril E. Fulton, at the U. S. Bankruptcy Court for the Middle District of Florida.

BDO Cayman Ltd. et al v. Ardent Harmony Fund Inc.: Ruling

Ruling dismissing "BDO Cayman's application for leave to commence proceedings against Ardent for an injunction to restrain them from continuing the New York proceedings" in BDO Cayman Ltd. , of the Cayman Islands, and BDO Trinity Ltd. , of Trinidad and Tobago v. Ardent Harmony Fund Inc. (in Official Liquidation) at the Grand Court of the Cayman Islands.

Premier Assurance Group SPC Ltd.: Chapter 15 Petition

Chapter 15 Petition for Recognition of a Foreign Main Proceeding in the Cayman Islands by Jeffrey Stower and Jason Robinson, as the Foreign Representatives of Premier Assurance Group SPC Ltd. (in Controllership), at the U. S. Bankruptcy Court for the Southern District of Florida. Editor's Note: The "Foreign Main Proceeding" in this matter, which includes allegations of fraud, was filed under seal at the Grand Court of the Cayman Islands on September 17th, 2020 and remains sealed as of today, with the entry in the Court's public register reading "Confidential Matter". It is often only when Cayman insolvency practitioners seek recognition in the United States that the mere existence of cases becomes publicly-known.

Platinum Partners liquidators sue BDO in the Cayman Islands

The liquidators of an offshore hedge fund and a "pass-through" tax vehicle that were part of the failed $1 billion U.S.-based Platinum Partners investment group have sued the Cayman Islands and New York operations of auditor BDO.

Diligence Inc. v. Nicolas Day: Amended Complaint Stipulation

Stipulation to file Amended Complaint regarding allegations of "corporate looting" involving Switzerland-domiciled Diligence Global Business Intelligence SA in Diligence Inc., a Delaware company majority owned by Cayman Islands-domiciled Information Security Investments Company v. Nicholas Day, a citizen of the United Kingdom residing in Chamonix, France, at the Court of Chancery of the State of Delaware.

Ardent Harmony Fund Inc. v. BDO Trinity Ltd.: Opposition to Motion to Dismiss

Opposition to Defendant's Motion to Dismiss regarding allegations of negligence, professional malpractice, and fraudulent concealment in Ardent Harmony Fund Inc. (in Liquidation), of the Cayman Islands v. BDO Trinity Ltd., a.k.a. BDO Trinidad & Tobago, of Trinidad & Tobago, at the Supreme Court of the State of New York.

Kuwait Ports Authority v. Citibank et al: Discovery Application

Ex Parte Application by Kuwait Ports Authority to take discovery from Citibank and E-Trade Financial Corporation for use in "impending litigation" in the Cayman Islands regarding "fraud and other wrongdoing related to KPA's investments in and business dealings with: (1) KGL Investment Company KSCC; and (2) the private equity fund, The Port Fund L.P." estimated at "hundreds of millions of dollars", filed at the U. S. District Court for the Southern District of New York.

Gulf Investment Corp. v. Bank of America et al: Discovery Application

Application by Gulf Investment Corporation, of Kuwait, described as "a supranational financial institution owned equally by the six Gulf Cooperation Council states: The Kingdom of Bahrain; The State of Kuwait; The Sultanate of Oman; The State of Qatar; The Kingdom of Saudi Arabia; and The United Arab Emirates", to take discovery from Bank of America, NA, The Bank of New York Mellon, Citibank, NA, Deutsche Bank AG, New York Branch; Deutsche Bank Trust Company USA, Goldman Sachs and Co., HSBC Bank USA, NA, JPMorgan Chase Bank, NA, Mashreqbank PSC, New York Branch; National Australia Bank Limited, New York Branch; Standard Chartered Bank, New York Branch; and Wells Fargo Bank NA for use in "contemplated litigation in the Cayman Islands" regarding "hundreds of millions of dollars that have gone missing", filed at the U. S. District Court for the Southern District of New York.

Ardent Harmony Fund Inc. v. BDO Trinity Ltd.: Complaint

Complaint attempting to hold the defendant "accountable for its failure to alert Ardent to an egregious fraud" in Ardent Harmony Fund Inc. (in Liquidation), of the Cayman Islands v. BDO Trinity Ltd., d.b.a. BDO Trinidad and Tobago, of Trinidad and Tobago, at the Supreme Court of the State of New York, County of Nassau.

Cristal Coleman Clark v. CMZ Group Ltd. SEZC et al: Complaint

Complaint alleging malicious prosecution in Cristal Coleman Clark v. Andrew Joseph Zahn, a.k.a. Joe Zahn, a.k.a. Andy Zahn, described as "a resident of Brazil"; Keith Miles, described as "a resident of the Turks & Caicos", and CMZ Group Ltd. SEZC, a.k.a. Sandstone Holdings Ltd., of the Cayman Islands, at the Circuit Court of the Eleventh Judicial Circuit, in and for Miami-Dade County, Florida.

Roland Kaehler: License Suspension

Decision Notice by the Cayman Islands Monetary Authority regarding the license suspension of Roland Fredrick Kaehler, a citizen of Canada.

Unique Broadband Systems Ltd. et al: Chapter 15 Petition

Chapter 15 Petition for Recognition of a Foreign Main Proceeding in Canada by Gary Cerrato, as the Foreign Representative of Unique Broadband Systems Ltd. and UBS-Axcera Inc., at the U. S. Bankruptcy Court for the District of Delaware.

BSG Resources Ltd.: Chapter 15 Petition

Chapter 15 Petition for Recognition of a Foreign Main Proceeding in Guernsey by William Callewaert and Malcolm Cohen, as the Foreign Representatives of BSG Resources Limited, at the U. S. Bankruptcy Court for the Southern District of New York.

Smar Equipamentos Industrias Ltda. et al: Chapter 15 Petition

Chapter 15 Petition for Recognition of a Foreign Main Proceeding in Brazil by Alexandre Borges Leite, as the Foreign Representative of Smar Equipamentos Industrias Ltda., Smar Comercial Ltda., and Valblock Indústria e Comércio Ltda., at the U. S. Bankruptcy Court for the Southern District of Florida.

Leslie Thompson: Chapter 15 Petition

Chapter 15 Petition for Recognition of a Foreign Main Proceeding in Scotland by James Stephen, as the Foreign Representative of Leslie Thompson, at the U. S. Bankruptcy Court for the Middle District of Florida.

Allen Stanford Receiver v. Greenberg Traurig LLP et al: Second Amended Complaint

Second Amended Complaint in Ralph S. Janvey, as court-appointed receiver for the Stanford receivership estate; Sandra Dorrell, Samuel Troice, and Michoacan Trust, individually and on behalf of a class of all others similarly situated, v. Greenberg Traurig LLP, Greenberg Traurig PA, and Yolanda Suarez at the U. S. District Court for the Northern District of Texas.

Keystone Private Equity Investments Ltd.: Chapter 15 Petition

Chapter 15 Petition for Recognition of a Foreign Main Proceeding in the British Virgin Islands by Russell Crumpler, as the Foreign Representative of Keystone Private Equity Investments Limited, at the U. S. Bankruptcy Court for the Southern District of New York.

Allen Stanford Receiver v. Greenberg Traurig LLP et al: First Amended Complaint

First Amended Complaint in Ralph S. Janvey, as court-appointed receiver for the Stanford receivership estate; Sandra Dorrell, Samuel Troice, and Michoacan Trust, individually and on behalf of a class of all others similarly situated, v. Greenberg Traurig LLP, Greenberg Traurig PA,  and Yolanda Suarez at the U. S. District Court for the Northern District of Texas.

Mint Bank International, LLC et al v. Puerto Rico Financial Institutions Commission: Complaint

Complaint in Mint Bank International, LLC and Guy Gentile Nigro v. Office of the Commissioner of Financial Institutions of Puerto Rico, George R. Joyner Kelly, in his official capacity as Commissioner of Financial Institutions of Puerto Rico, and Iris Nereida Jimenez, in her official capacity as the Auxiliary Commissioner of the Office of the Commissioner of Financial Institutions of Puerto Rico at the U. S. District Court for the District of Puerto Rico.

The Global Mutual Fund PCC et al: Administrators’ Final Report

Final Report of the Joint Administration Managers of The Global Mutual Fund PCC Limited, The Worldwide Mutual Fund PCC Limited, and The Universal Mutual Fund ICC Limited - all part of the Belvedere Management Group - to The Royal Court of Guernsey and Investors.

Malta regulator shuts down funds managed by Swiss firm Novium AG

Malta-domiciled investment fund firm Excellence Investment Umbrella SICAV Plc, which is managed by Swiss investment manager Novium AG, has been ordered to go into liquidation by its local regulator, the Malta Financial Services Authority.

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'.

Ardent Harmony Fund Inc.: Chapter 15 Petition

Chapter 15 Petition for Recognition of a Foreign Main Proceeding in the Cayman Islands by Michael Pearson, as the Foreign Representative of Ardent Harmony Fund Inc., at the U. S. Bankruptcy Court for the Southern District of New York.

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.