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Afiniti, Ltd.: Chapter 15 Petition (Bermuda)

November 3, 2024
Chapter 15 Petition for Recognition of a Foreign Main Proceeding in Bermuda by Hassan Afzal, as the Foreign Representative of Afiniti, Ltd. (in Provisional Liquidation), described as "the ultimate holding company of 32 companies in the business of applied predictive artificial intelligence" with total liabilities of $580 million, filed at the U.S. Bankruptcy Court for the District of Delaware.

‘Content violates European & Californian data privacy laws,’ writes rep. for Chicago resident Faizan Anees

October 24, 2024
Letter from 'data removal' business Incogni on behalf of Faizan Anees claiming that OffshoreAlert's publication of a public warning about his firm, Think Capital Ltd., by the Bermuda Monetary Authority for falsely claiming that it was licensed by the BMA and the publicly-available directors register of a Cayman Islands affiliate, TF Global Markets (International) Ltd., breached the Chicago resident's rights under data privacy laws in California and Europe.

Bermuda regulator cancels insurance registration of 777 Partners-owned 777 Re

October 9, 2024
Bermuda's financial regulator, the Bermuda Monetary Authority, has cancelled the insurance license of life and annuity reinsurer 777 Re. Ltd., which is part of the scandal-plagued U.S.-based investment group 777 Partners, which owns several professional soccer clubs around the world and recently failed in its attempt to buy English Premier League club Everton F.C.

Roosevelt Road Re Ltd. et al v. Wingate Russotti Shapiro Moses & Halpern LLP et al: Complaint (‘Workers’ Comp Racketeering’)

September 6, 2024
Complaint alleging "a widespread fraud scheme to defraud Plaintiffs and others by (i) unlawfully grooming and recruiting construction workers into staging and perpetuating fake construction accidents that occurred in New York; (ii) preparing and collecting documentation as well as submitting, filing, prosecuting and asserting fraudulent workers’ compensation claims and personal injury lawsuits on behalf of such construction workers; (iii) providing or alleging to have provided medically unnecessary and excessive healthcare services to such construction workers; (iv) providing monies directly or indirectly to Defendants and to Claimants to fund the fraud scheme, and/or (v) using the fraudulent diagnoses and medically unnecessary and excessive healthcare services to unlawfully enrich the Defendants and inflate the settlement value of claims and lawsuits" in Roosevelt Road Re Ltd., of Bermuda, and Tradesman Program Managers LLC v. Wingate Russotti Shapiro Moses & Halpern LLP, Philip Russotti, Clifford H. Shapiro, Kenneth Halperin, I. Bryce Moses, Bangel, Cohen & Falconetti, LLP, David J. Bangel, Stephen H. Cohen, Christopher M. Falconetti, NY Ortho, Sports Medicine & Trauma, P.C., Jeffrey Stone Kaplan, MD, Matthew P. Grimm, MD, Joseph Weinstein, D.O., P.C., Joseph Weinstein, DO, Carlos Castro, MD, Andrew Merola, MD, Kolb Radiology P.C., Thomas M. Kolb, MD, Lenox Hill Radiology and Medical Imaging Associates, P.C., RJ Physical Therapist, P.C., Cross Bay Orthopedic Surgery P.C., Peter Tomasello, Jr., DO, NYC Medical & Neurological Offices, P.C., Mehrdad Golzad, MD, Hudson Pro Orthopaedics & Sports Medicine LLC, Roman Isaac, MD, Citimedical I, PLLC, BL Pain Management, PLLC, Pain Physicians NY, PLLC, Leon Reyfman, MD, Boleslav Kosharskyy, MD, Surgicare of Brooklyn, LLC, Integrated Specialty ASC, d.b.a. HealthPlus Surgery Center, LLC; NYEEQASC, LLC, d.b.a. North Queens Surgical Center, Surgicore 5th Avenue LLC, Roosevelt Surgery Center, LLC, d.b.a. Manhattan Surgery Center, John Doe Nos. 1-25, and XYZ Corporation Nos. 1-25 at the U.S. District Court for the Eastern District of New York.

Roosevelt Road Re, Ltd. et al v. Herbert Subin et al: Complaint (‘Workers’ Comp Racketeering’)

July 19, 2024
Complaint alleging "a widespread fraud scheme to defraud Plaintiffs and others by preparing and collecting documentation as well as orchestrating the submission, filing and prosecuting of hundreds of fraudulent workers’ compensation claims and filing lawsuits on behalf of construction workers arising out of workplace purported construction accidents that occurred in New York and purportedly required significant medical services" in Roosevelt Road Re, Ltd., of Bermuda, and Tradesman Program Managers, LLC v. Herbert S. Subin, described as "lead trial attorney at the law firm of Subin Associates, LLP"; Eric D. Subin, described as "a senior trial attorney at the Subin Firm", and Jorge Arturo Gonzalez Lupi at the U.S. District Court for the Eastern District of New York.

Vantage Mezzanine Fund II Partnership v. The Clearing House Payments Company LLC et al: Discovery Application (Bermuda, England, Ghana, Italy, Malta & Switzerland)

July 18, 2024
Application by Vantage Mezzanine Fund II Partnership, acting through Vantage Mezzanine Fund II (Pty) Ltd. to take discovery from The Clearing House Payments Company LLC, Barclays Bank PLC, Citibank N.A., Deutsche Bank Trust Company Americas, HSBC Bank USA, N.A., JPMorgan Chase Bank, N.A., The Bank of New York Mellon, The Northern Trust Company/The Northern Trust International Banking Corporation, UBS AG, Wells Fargo Bank N.A., Bank of America N.A., and Standard Chartered Bank for use in legal proceedings in Bermuda, England, Ghana, Italy, Malta and Switzerland regarding an attempt to enforce a $59 million arbitration award against Ghana businessman John Eric Kowdo Taylor, filed at the U.S. District Court for the Southern District of New York.

Fleming Intermediate Holdings LLC v. James River Group Holdings Ltd. et al: Complaint (‘Securities Fraud/JRG Re Acquisition’)

July 15, 2024
Complaint alleging securities fraud regarding the acquisition of "a Bermudian reinsurance company, JRG Reinsurance Company Ltd., from its then-parent James River Group Holdings, Ltd. in a $300 million transaction" in Fleming Intermediate Holdings LLC v. James River Group Holdings Ltd., of Bermuda, and Frank D'Orazio at the U.S. District Coiurt for the Southern District of New York.

Sumitomo Pharma UK Holdings Ltd. v. Clear Street LLC: Discovery Application (Bermuda)

June 21, 2024
Application by Sumitomo Pharma UK Holdings Ltd. to take discovery from Clear Street LLC "for use in an appraisal proceeding currently before the Supreme Court of Bermuda brought by Alpine Partners (BVI) L.P. and arising out of the purchase of all outstanding shares of Myovant Sciences Ltd. by Sumitomo in March 2023", filed at the U.S. District Court for the Southern District of New York.

Zia Chishti v. Afiniti Inc.: Complaint

June 14, 2024
Complaint alleging "the imminent breach of a Protective Order that is binding on both parties to this Action" and "relates to a litigation pending in Bermuda where over $10 million is at stake" in Zia Chishti, described as "a dual citizen of the United States and Pakistan" v. Afiniti Inc. at the U.S. District Court for the District of Columbia.

Homeowners of America Insurance Company et al v. China Construction Bank Corporation et al: Complaint (‘Billions of Dollars Vesttoo-Related Fraud’)

May 9, 2024
Complaint "to recover from China Construction Bank - one of the largest banks in the world - for enabling its personnel to perpetrate a colossal fraud [with employees of the now-bankrupt company Vesttoo Ltd., a self-described “insurance marketplace"] that has upended the reinsurance industry and imposed monumental losses on Plaintiffs" in Homeowners of America Insurance Company, Homeowners of America Holding Corporation, Porch.com Inc., and Porch Group Inc. v. China Construction Bank Corporation, of China; China Construction Bank (Asia) Corporation Limited, of Singapore, and China Construction Bank New York Branch at the U.S. District Court for the Southern District of New York.

Leadenhall Capital Partners LLP et al v. 777 Partners LLC et al: Complaint (‘Hundreds of Millions of Dollars Double-Pledging Fraud’)

May 3, 2024
Complaint alleging "a years-long pattern of fraud perpetrated on the lenders of hundreds of millions of dollars of debt by a group of entities operating under the domination and control of Defendants Josh Wander, Steven Pasko, and Kenneth King" in Leadenhall Capital Partners LLP, described as "a London-based asset management company which focuses on granting institutional investors access to insurance-related risks", and Leadenhall Life Insurance Linked Investments Fund Plc, described as "an investment company organized as a public limited company under the laws of Ireland" v. Josh Wander, Steven Pasko, Kenneth King, 777 Partners LLC, 600 Partners LLC, SPLCSS III LLC, Signal SML 4 LLC, Insurety Agency Services LLC, Dorchester Receivables II LLC, SuttonPark Capital LLC, Signal Medical Receivables LLC, Insurety Capital LLC, SuttonPark Servicing LLC, Signal Servicing LLC, Insurety Servicing LLC, and Advantage Capital Holdings LLC at the U.S. District Court for the Southern District of New York.

SEC v. SION Trading FZE: Notice of Joint Liability (‘$37M Crypto Fraud’)

March 29, 2024
SEC's Notice of Joint Liability Against Relief Defendant SION Trading FZE, of the United Arab Emirates, regarding an alleged crypto-based investment fraud scheme in U.S. Securities and Exchange Commission v. Arbitrade Ltd., of Bermuda; Cryptobontix Inc., of Canada; Troy R.J. Hogg, of Canada; James L. Goldberg, Stephen L. Braverman, and Max W. Barber, as Defendants, and SION Trading FZE, as Relief Defendant, at the U.S. District Court for the Southern District of Florida.

Canadian Overseas Petroleum Ltd. et al: Chapter 15 Petition (Canada)

March 11, 2024
Chapter 15 Petition for Recognition of a Foreign Main Proceeding in Canada by Peter Kravitz, as the Foreign Representative of Canadian Overseas Petroleum Limited, COPL Technical Services Limited, Canadian Overseas Petroleum (Ontario) Limited, Canadian Overseas Petroleum (UK) Limited, Canadian Overseas Petroleum (Bermuda Holdings) Limited, Canadian Overseas Petroleum (Bermuda) Limited, COPL America Holding Inc., COPL America Inc., Atomic Oil & Gas LLC, Southwestern Production Corporation, and Pipeco LLC, described as "an international oil and gas exploration, development, and production company", filed at the U.S. Bankruptcy Court for the District of Delaware.

Roosevelt Road, Re Ltd. v. John Hajjar, MD et al: Complaint (‘Workers’ Comp Racketeering’)

March 1, 2024
Complaint alleging a workers' compensation fraud scheme in Roosevelt Road Ltd., of Bermuda, and Tradesman Program Managers LLC v. John Hajjar, MD, Surgicare, LLC, Surgicare of Manhattan, LLC, Surgicare of Westside, LLC, Surgicare, PC, Boro Ventures, LLC, Sovereign Medical Group, LLC, Sovereign Management, LLC, Regent Medical Properties, LLC, Anthony DeGradi, Wayne Hatami, Feliks Kogan, Leonid Tylman, Gregg Rock, Siddhartha Sharma, MD, Surgicore, LLC, Surgicore Management, Inc., Surgicore Management, LLC, Surgicore 5th Avenue, LLC, KTHD Investment, LLC, NY Ortho Sports Medicine & Trauma, PC, Jeffrey Stone Kaplan, MD, Matthew P. Grimm, MD, Adrian Puia, RPT, Joseph Weinstein DO, PC, Joseph Weinstein, DO, University Orthopedics of New York, PLLC, Steven John Touliopoulos, MD, Charles A. DeMarco, MD, Andrew M. Cruz, RPA, Andrew Merola, MD, Kolb Radiology, PC, Thomas M. Kolb, MD, Lenox Hill Radiology and Medical Imaging Associates, PC, Fogelgaren Forman & Bergman, LLP, Eric Fogelgaren, Jonathan Forman, Robert Bergman, Gorayeb & Associates, PC, Christopher J. Gorayeb, Francisco Payano, Sisa Pakari Cultural Center Inc., Sisa Pakari Centro Cultural & Laboral, Inc., Fanny Guadalupe, Rolando Manzano Moreno, and Cidel del Carmen Tandoza Moreno at the U.S. District Court for the Eastern District of New York.
OffshoreAlert Miami 2024 - Offshore Finance Session

Enigmatic Offshore Industry to be analyzed at OffshoreAlert Miami

January 30, 2024
Join us at the 20th Annual OffshoreAlert Miami Conference this April at the Ritz-Carlton, South Beach! Don't miss the session 'The Enigmatic World of Offshore Finance: All Your Questions Answered' with experts Mike Morrison (Teneo), Hadley Chilton (Cork Gully Asset Managers), Nick Hoffman (Harneys), and Alex Jay (Stewarts). Dive deep into the realities of offshore finance, debunking myths and exploring the industry's actual workings. Be part of this premier event for high-value international finance insights.

Chaucer Insurance Company DAC v. Vesttoo Bay XXIV LP et al: Complaint

January 23, 2024
Complaint in Chaucer Insurance Company DAC, of Ireland, and Chaucer Syndicates Ltd., of England, as managing agent for Lloyd's Syndicate 1084 v. Vesttoo Bay XXIV, Limited Partnership, of Israel; White Rock Insurance (SAC) Ltd. in respect of Segregated Account T108-Chaucer, described as "a segregated account formed pursuant to the Bermuda SAC Act", and Charles Thresh and Michael Morrison, as Joint Provisional Liquidators of White Rock Insurance (SAC) Ltd., of Bermuda, at the U.S. Bankruptcy Court for the District of Delaware.
Offshore Finance Demystified at OffshoreAlert Bangkok

Offshore Finance Demystified at OffshoreAlert Bangkok

January 22, 2024
Our expert panel will delve into the complex world of offshore finance, providing insights into the latest trends and developments in this often-misunderstood industry. Learn about the use of offshore structures in locations such as the British Virgin Islands, Bermuda, and the Cayman Islands by Asian High Net Worth Individuals and large corporations. We'll also cover the activities in regional Offshore Financial Centers including the Cook Islands, Labuan, Marshall Islands, Nauru, Niue, and Vanuatu.

Alpine Partners (BVI) LP v. Terrie Curran: Discovery Application (Bermuda)

January 19, 2024
Application by Alpine Partners (BVI) L.P., of the British Virgin Islands, to take discovery from Terrie Curran for "an appraisal proceeding pending before the Supreme Court of Bermuda" regarding "the fair value of its shares in Myovant Sciences Ltd.", filed at the U.S. District Court for the District of New Jersey.

Alpine Partners (BVI) LP v. Mark Guinan: Discovery Application (Bermuda)

January 19, 2024
Application by Alpine Partners (BVI) L.P., of the British Virgin Islands, to take discovery from Mark Guinan for use in "an appraisal proceeding pending before the Supreme Court of Bermuda" regarding "the fair value of its shares in Myovant Sciences Ltd.", filed at the U.S. District Court for the Middle District of Florida.

Alpine Partners (BVI) LP v. Nancy Valente: Discovery Application (Bermuda)

January 19, 2024
Application by Alpine Partners (BVI) L.P., described as "an investment fund constituted as a limited partnership in the British Virgin Islands", to take discovery from Nancy Valente for use in "an appraisal proceeding pending before the Supreme Court of Bermuda" regarding "the fair value of its shares in Myovant Sciences Ltd.", filed at the U.S. District Court for the Northern District of California.

Swedish national Jon Malmsäter’s SCF Brazil Cayman fund goes into liquidation

January 16, 2024
Another Cayman Islands mutual fund - SCF Brazil, Cayman Feeder SPC - associated with the Miami-based, Brazil-focused Prudent Group has collapsed, this one operated by Swedish national Jon Malmsäter, who has a history of dubious investment schemes, indebtedness, tax problems, and even domestic violence.

Alpine Partners (BVI) LP v. Pfizer Inc.: Discovery Application (Bermuda)

January 8, 2024
Application by Alpine Partners (BVI) LP, described as an "investment fund" domiciled in the British Virgin Islands, to take discovery from Pfizer Inc. for use in an "appraisal proceeding" in Bermuda "concerning the take-private merger of Myovant Sciences Ltd.", filed at the U.S. District Court for the Southern District of New York.

Glencore Finance (Bermuda) Ltd. v. Bolivia: First Amended Petition to Enforce Arbitral Award ($253M)

November 17, 2023
First Amended Petition to Enforce Arbitral Award that “arises from Bolivia’s nationalization of certain investments made by Glencore in Bolivia” in Glencore Finance (Bermuda) Ltd., described as a Bermuda subsidiary of Jersey, Channel Islands-domiciled, Switzerland-based Glencore Plc v. The Plurinational State of Bolivia at the U.S. District Court for the District of Columbia.

Orbis Global Equity LE Fund et al v. Vale S.A. et al: Amended Complaint (‘Securities Fraud’)

November 9, 2023
Amended Complaint “to recover significant investment losses suffered as a result of securities fraud perpetrated by Defendants” in Orbis Global Equity LE Fund, of Australia; Orbis Global Equity Fund, of Australia; Orbis Global Balanced Fund, of Australia; Orbis SICAV, of Luxembourg; Orbis Institutional Funds Limited, of Bermuda; Orbis Global Equity Fund Limited, of Bermuda; Orbis Institutional Global Equity LP, of Delaware, and Orbis OEIC, of England and Wales v. Vale SA, described as “an international mining company based in Brazil”; Murilo Ferreira, Fabio Schvartsman, Luciano Siani Pires, Gerd Peter Poppinga, and Luiz Eduardo Froes do Amaral Osorio at the U. S. District Court for the Eastern District of New York.