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XiO Fund LLP v. Silicon Valley Bank: Discovery Application

Application by Gwynn Hopkins, of Perun Consultants Limited, in Hong Kong, and Gordon MacRae, of Kalo (Cayman) Limited, of the Cayman Islands, as Joint and Several Interim Receivers of XiO Fund LLP, of the Cayman Islands, to take discovery from Silicon Valley Bank for use in legal proceedings in the Cayman Islands, filed at the U. S. District Court for the Northern District of California. Editor's Note: This discovery application includes, as an exhibit, a copy of the underlying complaint alleging fraud involving hundreds of millions of dollars that was filed under seal at the Grand Court of the Cayman Islands on May 8th, 2019 and, eight months later, remains sealed as part of the Cayman Court's secretly-imposed mass-sealing policy - implemented by Chief Justice Anthony Smellie - that conceals from public view even the existence of many cases involving allegations of impropriety and insolvency against the jurisdiction's hedge funds.
DOCUMENT.PDF

File Size: 1.96 MB

Pages:

94

 

Plaintiff(s)/Applicant(s):

XiO Fund LLP

 

Date:

January 14, 2020

 

Case Number:

Xx Xx Xx

Sector:

Banks & Trusts;Discovery;Liquidations & Insolvencies;Litigation;Securities & Investment

 

Defendant(s)/Respondent(s):

Silicon Valley Bank

 

Court Name - US Federal:

California - Northern District Court


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1 COMMENTS

  • KenL
    By KenLon Thursday, January 16, 2020 12:30:33 AM

    I am always amused when I see alerts about allegations of fraud made by people who themselves have been charged with fraud. https://www.businesswire.com/news/home/20190425006069/en/Office-Prosecutor-Cambodia-Officially-Filed-Criminal-Case There should be some level of integrity and ethical standards for this professions.

      Replies(1)
      • KenL

        I was referring to Mr Hopkins, who was charged for fraud in Cambodia in April last year, yet he is still acting in positions of trust. Why do we allow such laxed standards of fitness and propriety of officers of the court. https://www.marketwatch.com/press-release/the-office-of-the-prosecutor-in-cambodia-officially-filed-a-criminal-case-against-executives-of-j-trust-who-colluded-to-defraud-in-obtaining-shares-of-a-pacific-opportunities-a-parent-of-client-company-of-group-lease-a-subsidiary-of-wedge-holdings-2019-04-25

      We hunt for red flags in high-value, cross-border finance by monitoring offshore and onshore courts, regulatory actions, offering documents, and other sources - and email you the results.

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      Cayman Court Secrecy: A Huge Red Flag for Foreign Investors & Clients
      David Marchant
      As any fule kno, the biggest enemy of fraud, corruption, money laundering, and other forms of financial crime is transparency, while their best friend is secrecy. That's why the unprecedented mass sealing of cases that's taking place at the Financial Services Division of the Grand Court of the Cayman Islands is repugnant to anyone with a genuine concern for financial crime.