Petition for Court Supervision of a Voluntary Liquidation in the matter of United Oils Limited SEZC (in Voluntary Liquidation) at the Grand Court of the Cayman Islands.
British attorney Timothy Schools and entities he wholly or partly beneficially owned received £81 million of the £108 million that was swindled from investors in Cayman Islands-domiciled Axiom Legal Financing Fund, the Fund's Receivers have claimed in an amended complaint filed at the High Court in London.
New details have emerged of apparent asset-stripping by an insolvent British law firm - Rohrer & Co Limited - that owes Cayman Islands-domiciled Axiom Legal Financing Fund £8.3 million.
The assets of British attorney Timothy Schools and related parties have been frozen in England by the receivers of Cayman-domiciled Axiom Legal Financing Fund, who are also suing them for £110 million, alleging misappropriation of investors' funds.
British attorney Steven Goodman, who is associated with insiders of the fraudulently-operated Axiom Legal Financing Fund, claims to be owed £25.7 million by the insolvent Fund's former investment manager.
The Grand Court of the Cayman Islands has granted the Receivers of Axiom Legal Financing Fund the same powers as liquidators and, separately, asked the High Court of Justice in England and Wales - where much of the Fund's activity occurred - to recognize the receivership.
Petition filed by Virginia Larocco and Cheryl Casagrande to wind up Matter of Caribbean Island Developments Ltd. at the Grand Court of the Cayman Islands.