PetroEcuador

Seven Cayman Islands firms whose beneficial owners appear to be accused fraudsters in the United States have gone into liquidation, joining affiliates in the British Virgin Islands and the Bahamas.

Criminal Indictment in USA v. Frank Roberto Chatburn Ripalda and Jose Larrea at the U. S. District Court for the Southern District of Florida.

A Bermuda-based protection and indemnity club has asked a United States judge to cap the limit of its liability concerning a claim by one of its members.Details are contained in a civil complaint filed by Tiber Shipping LLC, based in New York, owner of the M/V Tiber; Rio Grande Transport, Inc., based in New York, charterer of the M/V Tiber; and Steamship Mutual Underwriting Association (Bermuda) Ltd, of which the M/V Tiber was a member, at the U. S. District Court for the Southern District of Texas on September 18, 2008.