Conyers

Petition In the Matter of EPRO Limited at the Grand Court of the Cayman Islands.

Chapter 15 Petition for Recognition of a Foreign Main Proceeding in the British Virgin Islands by Kenneth Krys and Christopher Stride, as the Foreign Representatives of Fairfield Sentry Limited, Fairfield Sigma Limited, and Fairfield Lambda Limited, at the U. S. Bankruptcy Court for the Southern District of New York.

Petition filed In the Matter of Azalea Networks at the Grand Court of the Cayman Islands.

Winding Up Petition In the Matter of China Sun Bio-Chem Technology Group Company at the Grand Court of the Cayman Islands.

Petition In the Matter of Hao Wen Holdings Limited, formerly known as Everpride Biopharmaceutical Company Limited, at the Grand Court of the Cayman Islands.

Bermuda police have recommended that 55 year old Canadian money manager Dr. Hans Black be criminally prosecuted for allegedly defrauding a client of $6 million.Black, whose Montreal based Interinvest group reportedly manages over $2 billion from offices in Canada, Bermuda,

Petition filed In the Matter of Radford Capital Investment Limited at the Grand Court of the Cayman Islands.

Ernst & Young's operations in the Cayman Islands and the Bahamas are among the defendants in a class action complaint filed on behalf of investors in an offshore hedge fund whose money ended up in Bernard Madoff's fraudulent scheme. Other

Two US based plaintiffs claim they were defrauded in a captive insurance program operated from Bermuda.Details are contained in a civil complaint filed at the U. S. District Court for the Southern District of New York on December 24, 2008,

Chapter 15 Petition for Recognition of a Foreign Main Proceeding in Bermuda by John McKenna, as the Foreign Representative of BluePoint Re Limited, at the U. S. Bankruptcy Court for the Southern District of New York.

First Affidavit of Naul Bodden in the case of the liquidators of Grand Island Master Fund, Grand Island Income Fund, Grand Island Commodity Trading Fund, and Grand Island Commodity Trading Fund II against Caribbean Commodities Ltd., RCTG Investments Ltd., and Robert Christopher Girvan at the Grand Court of the Cayman Islands.

Conyers and Associates Ltd. vs. Ramadhin Smith - Bermuda Supreme Court

Notice of Filing of Statement of Financial Affairs and First Report to Creditors in the matter of Hatteras Reinsurance Ltd. at the U. S. Bankruptcy Court for the Southern District of New York.

Chapter 15 Petition for Recognition of a Foreign Main Proceeding in Bermuda by Mark Smith, as the Foreign Representative of New World Network International Ltd., at the U. S. Bankruptcy Court for the Southern District of New York.

AXIS Capital CEO John Charman has lost the latest round of a bitter battle with his estranged wife over a Bermuda family trust.

Bermuda law firm Conyers Dill & Pearman has been dismissed from a court action in the United States but a judge has ruled that its client, ACE Bermuda Insurance Ltd., must remain in the case. The adversary proceeding was filed

A lawsuit alleging contempt of court has been brought in the United States against Bermuda's biggest law firm, Conyers Dill & Pearman, and one of its clients, ACE Insurance Company Ltd. They are defendants in an adversary proceeding filed at the U. S. Bankruptcy Court for the District of Arizona on April 18, 2005 by Gerald Smith, as Plan Trustee of Boston Chicken Inc. and related parties, and as assignee of former Boston Chicken officers or directors Scott A. Beck and Peer Pedersen.

Investment group Lines Overseas Management, which claims to have nearly $1 billion of assets under administration, is refusing to provide information about allegedly illegal trading activities to its own auditor, as well as the Bermuda Monetary Authority and the SEC

A firm whose vice-chairman was once former Bermuda Premier Sir David Gibbons has been ordered to turn over records to a U. S. Bankruptcy Trustee seeking to recover alleged fraudulent transfers of assets. Visual Technologies Ltd. had claimed that the laws of Bermuda - where it is incorporated - prevented it from producing certain documents.

OffshoreAlert has found two more civil lawsuits filed by the Receiver of Lancer Offshore and related parties against alleged recipients of money transfers from the failed hedge fund group.Last month, we reported that Marty Steinberg had filed a lawsuit on July 9, 2004 at the U. S. District Court for the Southern District of Florida against 26 defendants - mainly financial institutions - in which he sought more than $17 million.

Fortress Re Inc. and its two principals, Maurice Sabbah and Kenneth Kornfeld, have reportedly agreed to settle a $1 billion arbitration award by giving up assets worth more than $400 million.The assets include "lavish homes, antiques, a Gulfstream III jet and other assets", according to a report in the Wall Street Journal on July 21, 2004.

A company formed by British investment fraudsters Lincoln Fraser and Jared Brook to disrupt the administration liquidation of their failed Imperial Consolidated Group, including perpetrating an asset recovery fraud against Imperial's investors, is about to go the way of most,

The liquidators of Bermuda Fire & Marine Insurance Company have disclosed that they received $50 million as settlement of one of the most high profile lawsuits in the island's history.However, $24 million of that went to cover fees and costs

Last month, InsideBermuda promised to make further inquiries into the ownership of Bermuda-registered Orbis Investment Management Ltd. after its management had tried to block access to its share register. Readers may recall that, when OIML eventually allowed a member of the public to inspect its register, it showed that the majority shareholder was Orbis Holdings Ltd., with 499,996 of the 500,000 issued shares, with one each held by Geoffrey Gardner, William Gray, Allan Gray and James Dorr.

Several Bermuda-registered companies or their clients have been affected by the failure of a hedge fund group which allegedly defrauded its investors of more than $600 million. Subsidiaries or affiliates of the Bank of Bermuda, Bank of Butterfield, Conyers Dill & Pearman, Lines Overseas Management, and the Meridian Group are on the service list for filings at federal court in Miami.

An arbitration panel sitting in New York has awarded more than $1 billion against failed aviation reinsurance pool manager Fortress Re Inc., of North Carolina. In a decision issued on December 16, 2003, the panel found that Fortress Re and its principals, Maurice Sabbah and Kenneth Kornfeld perpetrated a massive fraud against Sompo Japan Insurance Inc.

The Hartcourt Companies has become the latest affiliate of Bermuda-registered Mezzanine Capital, whose shareholders have included subsidiaries of Lines Overseas Management and the Bank of Bermuda, to be accused of securities fraud in the United States. A civil lawsuit was filed by the SEC at the U. S. District Court for the Central District of California on May 27, 2003 against The Hartcourt Companies Inc., which is registered in Utah and based in California; Alan V. Phan, 57, of Long Beach, California; and Yongzhi Yang, 45, of Los Angeles, California.

Investors in a British Virgin Islands-registered offshore hedge fund with ties to convicted or suspected fraudsters might be staring at losses totalling $400 million. That is the capital contribution believed to have gone into Lancer Offshore Inc., much of whose "assets" comprise interests in dubious, loss-making, penny stock firms whose shares are thinly-traded.

Lancer Offshore Inc., which is registered in the British Virgin Islands and listed on the Irish Stock Exchange, has brought a libel lawsuit against the New York Post - one month after notifying investors it was effectively suspending cash redemptions. The libel action was filed at New York State Supreme Court on February 14, 2003 after the Post published three negative articles about the Fund, which purports to have assets valued at $1 billion, and/or its principal, Michael Lauer.

The Joint Liquidators of Bermuda-registered Carolina Reinsurance Ltd. have filed a civil lawsuit in the United States against the firm's shareholders and auditor.They are seeking damages for tens of millions of dollars of dividends they claim were taken out of the company when it was insolvent.

Arthur Andersen's Bermuda registered captive, Professional Services Insurance Company Ltd., is seeking to enter into a Scheme of Arrangement with its creditors.An order was issued at Bermuda Supreme Court on November 14, 2002 granting the firm's application to meet with

Naïve or cynical? That was a logical question to ask of United States Senator Hillary Rodham Clinton and Governor George Pataki after they teamed up with suspected fraudster Jerry C. Nims, whose Bermuda based business failures have cost investors millions

A new reinsurer provisionally called D'Artagnan has become the latest to form in the Bermuda market, according to a report UK press reports.Insurance Day, The Daily Telegraph and Post Magazine all reported the formation of the reinsurer in reports published

The Harris Organization financial services group has been evicted from its offices in Panama City for non-payment of rent; The revocation of the banking license of Baltic Bank Ltd. earlier this year by the Offshore Finance Authority of St. Vincent and the Grenadines has been stayed by Justice Brian Alleyne, sitting in the local High Court, according to a source familiar with the action; The battle for control of $6.5 million of frozen assets of a now-defunct, Dominica-based Ponzi scheme known as Stock Generation is dragging on through the United States District Court for the District of Massachusetts; Grenada Prime Minister Keith Mitchell and several other members of his Cabinet have received an award of $200,000, plus legal costs of $10,000, after winning a libel action brought against local journalist Stanley Charles, businessman and radio talk show producer Eddie Frederick and Grenada Broadcasting Network; The Central Bank of Belize has issued warnings about two entities that may be incorrectly holding themselves out to be licensed financial institutions: Trinity Savings Bank and Goldman & Stein; A Bermuda resident has accused the island's biggest law firm, Conyers, Dill & Pearman, of charging exorbitant fees for taking two trustees off her will, reported The Royal Gazette newspaper; A new date of July 15, 2002 has been set for the resumed hearing in the Bahamas of the appeal brought by the directors of Suisse Security  Bank & Trust Ltd. against the decision of the Central Bank revoking SSBT's licence; and The lack of concern shown by the operators of the Financial Times web-site for the financial well-being of its visitors continues.

A company partly-owned by former Bermuda Premier Sir David Gibbons and other Bermuda-based investors is being investigated for a suspected fraudulent conveyance of assets in the United States. It is the latest chapter in the sordid saga of NimsTec Ltd., a 3-D technology firm which - together with predecessor companies and affiliates - has lurched from one fiasco to another over many years.

Indictment filed by USA against Alvin Irwin Moss, Frederick John Collier, Avraham Zohar, a.k.a. Avy Zohar; Richard Titterington, Geoffrey L. Feldman, Sherrie-Lee Doreen Cave, Peter James O'Sullivan, Rosalind Rose, Wayne Budd, Thomas Montgomery Bayer, Robert Murray Bohn, Stacy Layne Beavers, Beverly Ann Moss, Jeffery Allen Moss, Larry Charles Moss, Michael Joseph Harkin and Michael Elliot Cole at the U. S. District Court for the Western District of Tennessee.

A new group that is operated from the same offices as Imperial Consolidated by people who are described as ex-Imperial employees has denied that it has become involved with a Bermuda-registered mutual fund. A spokesman for Alpha Toronto described as "incorrect" an article that was recently published in a magazine operated by British-based Charterhouse Communications.

Losses from the World Trade Center terrorist attack have claimed their first victim in Bermuda, with the forced liquidation of Carolina Reinsurance Limited.Carolina Re was a Class 3 insurer that was formed in Bermuda in 1984 and managed by Westbroke Ltd., which is operated by the law firm of Conyers, Dill & Pearman.

Shares of the parent company of Bermuda-based stockbroker Lines Overseas Management were listed for the first time on the Bermuda Stock Exchange on July 24.A statement that the shares had been approved for listing was made on July 20 without any prior public announcement that an application had been submitted.

One of Bermuda's longest-running farces came to an end this month when the Bermuda Fire & Marine Insurance Company trial ended with an out-of-court settlement. Seven months into the trial, the corporate and individual defendants threw in the towel and appear to have given the liquidators of BFMIC virtually everything they were seeking.

The Bermuda Fire & Marine Insurance trial began, as scheduled, on May 4 and most of the rest of the month was spent hearing allegations of lies, deceit and fraud against people who were at one time considered to be among the crème de la crème of the local business community.

Some of the UK's top attorneys began arriving in Bermuda this month to prepare for the island's biggest ever civil trial, involving the alleged asset-stripping of the failed Bermuda Fire & Marine Insurance Company by some of the island's most prominent businessmen and companies. The trial, which is due to start on May 4, is expected to last four months and there have been no indications in the run-up to the off that the case will be settled.

For the second month out of four, a company closely associated with Bermuda Stock Exchange-listed Mezzanine Capital Ltd. - which has been implicated in the manipulation of penny stocks - has been adjudged 'Stock of the Month' by www.hotstocknews.com, which promotes stocks over the Internet. NetVoice Technologies Inc. received the 'honor' in April, following on from a similar award in February to XtraNet Systems. Both companies gave the stock promotion firm shares in return for the plugs.

Further incriminating evidence against Bermuda Stock Exchange-listed Mezzanine Capital, Lines Overseas Management has sophisticated computer software system installed, Marc M. Harris and his Panama bodyguards, 'The Invisible Investor' book provides a plethora of unintentional laughs, Nigerian fraudsters appears in Cayman Islands court, Florida-based scam seeks to take advantage of bona fide firms like Lloyd's Bank and Barclays Bank, Members of Cayman Islands Legislative Assembly shelve plans to award themselves huge pay increases.

What is probably the most eagerly-awaited civil trial in Bermuda's history - involving the alleged $50 million asset-stripping of Bermuda Fire & Marine Insurance Company while it was known to be insolvent - is scheduled to start on May 4, 1999. The trial, in which some of the island's best-known businessmen and companies are defendants, is expected to last four months.

A Bermuda Stock Exchange-listed company whose minority shareholders include subsidiaries of the Bank of Bermuda and financial services firm Lines Overseas Management is caught up in what appears to be a scheme to defraud investors on the NASDAQ over-the-counter market, Offshore Alert can disclose. We have uncovered an astonishing list of proven abuses and allegations of fraud and dishonesty against individuals and companies associated with Bermuda-registered investment holding company Mezzanine Capital Ltd., including its Chairman and President, Eric Chess Bronk, although we have found nothing to incriminate LOM or the Bank of Bermuda.

Former Bermuda Finance Minister Grant Gibbons has been appointed a founding director of a newly-formed holding company set up to raise $1 billion for a new reinsurer in Bermuda, we can disclose. The involvement of Gibbons, who is part of one of the most influential and wealthiest families in Bermuda, is a shot in the arm for the project, whose existence we revealed last month.

Santo Porpiglia vs. Conyers, Dill & Pearman - Bermuda Supreme Court

Defendants in a fraud lawsuit involving Bermuda Fire & Marine Insurance Company made an offer last year of between $10 million and $15 million to settle the case, OffshoreAlert can reveal. However, Bermuda Fire's liquidators, Ernst & Young, rejected the offer on the grounds that it fell substantially short of what was acceptable, said a source whose company is owed money by Bermuda Fire.

If investors who pumped $2.6 million into Bermuda-based hi-tech firm NimsTec on the basis of misleading and inaccurate information are looking for someone to sue for negligence, they could do worse than to explore the role of law firm Conyers Dill & Pearman in helping NimsTec to raise capital. Before parting with their funds, investors in NimsTec who bought shares in two private placements were assured by NimsTec's officers and directors - who included CD&P partners - that no material facts were omitted from a share prospectus and that "all reasonable care" had been taken in its compilation. However, we can reveal that CD&P should have known about the appalling track record of NimsTec's 3-D camera and printing technology and its management that was not disclosed to investors because the law firm previously represented a similar company called Nimslo.