Cayman Islands Monetary Authority v. Saad International Bank Ltd.: Winding Up Petition
Winding Up Petition in Cayman Islands Monetary Authority v. Saad International Bank Limited at the Grand Court of the Cayman Islands.
Cayman Islands Monetary Authority v. Saadgroup Financial Services Company Ltd.: Winding Up Petition
Winding Up Petition in Cayman Islands Monetary Authority v. Saadgroup Financial Services Company Limited at the Grand Court of the Cayman Islands.
Scottish Re settles shareholders’ class action for $37.5 m
Scottish Re Group Ltd., several current and former officers and directors, its auditor, and the underwriters of two public offerings of the reinsurer's shares in 2005 have agreed to pay $37.5 million in cash to settle a class action lawsuit.An order preliminarily approving the proposed settlement was issued by Shira A. Scheindlin at the U. S. District Court for the Southern District of New York on September 8, 2008.
US investigators hammer offshore providers
An offshore insurer whose directors include former Chairman of the Cayman Islands Monetary Authority Michael Austin may have been used to help an American family worth billions of dollars break U. S. tax, securities and money laundering laws.The allegations were made in a report entitled “Tax Haven Abuses: The Enablers, The Tools and Secrecy” that was published by the U. S. Senate Permanent Subcommittee on Investigations on August 1, 2006.
Class action lawsuit filed against Scottish Re
A class action lawsuit alleging securities violations has been filed in the United States against an offshore reinsurer whose directors include former Chairman of the Cayman Islands Monetary Authority Michael AustinIt was brought at the U. S. District Court for the Southern District of New York on August 2, 2006 - just two days after the share price of Bermuda-based life reinsurer Scottish Re Group Ltd. fell by 75% from $16 to $3.99 on the New York Stock Exchange in one trading day.
Beacon Hill liquidators sue managers, administrator and auditor
The liquidators of an offshore hedge fund that collapsed owing approximately $300 million have filed a civil complaint in New York against its former controllers, auditor and administrator.The complaint was filed by Theo Bullmore and Philip Stenger, as joint official
Beacon Hill investors sue Ernst & Young (Cayman) et al
Ernst & Young (Cayman) has been named as a defendant in two new civil lawsuits filed by 12 investors in two failed hedge funds who have claims totaling $197 million.The actions were filed at the U. S. District Court for the Southern District of New York on October 5 and October 7, 2004 and concern investments made in Bristol Fund Ltd., of the Cayman Islands, and Safe Harbor Fund L. P., of New Jersey.
Beacon Hill files for liquidation in Cayman
An offshore hedge fund whose Board includes a director of the agency that regulates it has gone into liquidation.
Beacon Hill Master Ltd. filed a voluntary winding-up petition at the Grand Court of the Cayman Islands on October 27, 2003. Theodore Bullmore and Simon Whicker, both of KPMG, have been appointed liquidators.