Greetings!
Welcome to OffshoreAlert's monthly email round-up of important articles and documents regarding the offshore world.
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July 01, 2013 - 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 fraud and breach of fiduciary duties.
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June 27, 2013 - Taylor Moor Ltd., which received commissions of more than �1.8 million from distributing Axiom Legal Financing Fund before going into liquidation last month, did not ultimately benefit from the Fund and is a "victim", says the firm's Managing Director, Malcolm Dixon.
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June 20, 2013 - British fund distributor Taylor Moor Limited, which helped to raise most of the estimated �117 million that was invested in Cayman Islands-based Ponzi scheme Axiom Legal Financing Fund, has gone into liquidation. Cayman Islands law firm Harneys is the biggest trade creditor.
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June 13, 2013 - Bermuda Chief Justice Ian Kawaley has taken the extraordinary step of holding prominent offshore law firm Conyers Dill & Pearman and one of its attorneys, Ray DeSilva, liable for costs in a legal action after neither the law firm nor its client turned up for a trial.
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June 12, 2013 - Butterfield Bank (Cayman) Ltd. has been dragged into litigation arising from the theft by David Self of approximately $1 million from clients of his Cayman Islands-based captive management firm Monkton Insurance Services Ltd.
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June 09, 2013 - An insolvent firm - CIL Limited, f.k.a. CEVA Investments Limited - that anonymously petitioned for liquidation two months ago in the Cayman Islands is the holding company for an international conglomerate with 50,000 employees worldwide and reported revenues of $9.5 billion in 2012, OffshoreAlert can reveal.
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June 08, 2013 - U. S.-based hedge fund manager Fredrick Scott has been charged with defrauding investors in his ACI Capital Group, which has offshore structures and accounts in the British Virgin Islands and Cayman Islands.
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June 02, 2013 - Insolvent Ashton Fox Solicitors owes failed Cayman Islands-domiciled Axiom Legal Financing Fund "approximately �60.8 m" but that is only an estimate "due to the paucity of the Company's accounting records", reported the law firm's joint administrator on May 15.
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EDITOR'S PICKS: DOCUMENTS
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Australia: Brandi Angela Brandt
June 18, 2013 - Complaint to extradite Brandi Angela Brandt from the USA to Australia to face allegations of conspiring with Wayne Cleveland and Craig Nicholson to import cocaine.
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Maples and Calder v. Descartes Athena Fund SPC: Petition
June 18, 2013 - Petition in Maples and Calder v. Descartes Athena Fund SPC at the Grand Court of the Cayman Islands.
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Paul Kinrade et al v. Mukhtar Ablyazov et al: Order Recognizing Receivership
June 13, 2013 - Order in Paul Kinrade, Keith Williamson, and Daniel Barton, as Joint Receivers v. Mukhtar Ablyazov and Usarel Investments Limited at the British Virgin Islands High Court.
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John Gordon Hewitt v. Tara Rivers: Election Petition
June 12, 2013 - Election Petition in John Gordon Hewitt v. Tara Rivers at the Grand Court of the Cayman Islands.
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Otkritie International Investment Management Ltd. et al: Eighth Application to Issue Subpoenas
June 11, 2013 - Eighth Application to Issue Subpoenas for the Production of Documents for Use in a Foreign Proceeding by Otkritie International Investment Management Limited, domiciled in the British Virgin Islands; Otkritie Securities Limited, domiciled in England and Wales; and Otkritie Financial Corporation JSC, domiciled in Russia, at the U. S. District Court for the Southern District of New York.
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Botswana: Albern Investments (PTY) Ltd.
June 10, 2013 - Application for the appointment of a Commissioner - pursuant to a request for judicial assistance from Botswana - to collect evidence for a criminal investigation into suspected fraud by Tendai Gwata, Godfrey Marecha, Anganiswo Ngunga, James Ngunga, and Albern Investments (PTY) Ltd.
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Royal Fiduciary Group Ltd.: Fixed Date Claim Form
June 07, 2013 - Fixed Date Claim Form In the Matter of Royal Fiduciary Group Limited at the British Virgin Islands High Court.
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Stuart Mackellar v. Konstantin Malofeev et al: Claim Form
June 07, 2013 - Claim Form in Stuart Mackellar, as sole liquidator of Brentville Limited, v. Konstantin Malofeev, Natalia Tyurina, and Hall Industries Limited at the British Virgin Islands High Court.
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Peru: Ollanta Moises Humala Tasso
June 05, 2013 - Application for the appointment of a Commissioner to collect evidence - pursuant to a request for judicial assistance from Peru - for a criminal investigation into someone who is identified as Arturo Layme Maldonado Peru for allegedly making threats against the President of Peru, Ollanta Moises Humala Tasso, and others.
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CIL Limited: Amended Winding-Up Petition
June 05, 2013 - Amended Winding-Up Petition In the Matter of CIL Limited, a.k.a. CEVA Investments, at the Grand Court of the Cayman Islands.
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Saudi National Commercial Bank et al v. TCP Private Equity II Ltd. et al: Writ of Summons
June 05, 2013 - Writ of Summons in Saudi National Commercial Bank, limited partner of Oryx Private Equity Partners II, LP. and Oryx Private Equity Partners III, LP, and Oryx Private Equity Fund, L.P., as limited partner of Oryx Private Equity Partners, LP, v. TCP Private Equity II Ltd., as limited partner of Oryx Private Equity Partners, LP, TCP Private Equity III Ltd., as limited partner of Oryx Private Equity Partners II, LP and TCP-NC Private Equity V Ltd., as limited partner of Oryx Private Equity Partners III, LP at the Grand Court of the Cayman Islands.
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The Queen v. McKeeva Bush: Indictment
June 04, 2013 - Indictment in The Queen v. McKeeva Bush at the Grand Court of the Cayman Islands.
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Partners Group Access Secondary 2008, LP et al v. Cybernaut Growth Fund, LP: Winding-Up Petition
June 04, 2013 - Winding-Up Petition in Partners Group Access Secondary 2008, LP, Partners Group Access 89, LP, Partners Group Maple Leaf Secondary Fund II, LP Inc., Partners Group Access IV LP, and Partners Group Global Value SICAV v. Cybernaut Growth Fund, LP at the Grand Court of the Cayman Islands.
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William H. Millard et al: Judgment
June 03, 2013 - Judgment In the Matter of William H. Millard and Patricia H. Millard and In the Matter of The Bankruptcy Law at the Grand Court of the Cayman Islands.
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SJK Absolute Return Fund, LLC et al v. EisnerAmper LLP et al: Complaint
June 03, 2013 - Complaint in SJK Absolute Return Fund, LLC and SJK Absolute Return Fund, Ltd. v. EisnerAmper LLP, f.k.a. Eisner LLP, and EisnerAmper (Cayman) Ltd., f.k.a. Eisner (Cayman) Ltd., at the U. S. District Court for the Middle District of North Carolina.
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Bo Zhong v. World Orient Universal Ltd. et al: Fixed Date Claim Form
May 31, 2013 - Fixed Date Claim Form in Bo Zhong v. World Orient Universal Ltd. and Morgan & Morgan Trust Corporation Limited at the British Virgin Islands High Court.
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