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USA v. Trident Corporate Services, Inc. et al: Petition to Serve ‘John Doe’ Summonses (‘Tax Evasion Investigation Into Clients of Trident Trust Group’)

December 17, 2024
Ex Parte Petition by the IRS for Leave to Serve ‘John Doe’ Summonses on TT (USA) Holdings, Inc., Trident Corporate Services, Inc., and Trident Fund Services, Inc. as part of an investigation into suspected tax evasion by clients of Trident Trust Group, filed at the U.S. District Court for the Northern District of Georgia.

USA v. FedEx et al: Petition to Serve ‘John Doe’ Summonses (‘Tax Evasion Investigation Into Clients of Trident Trust Group’)

December 17, 2024
Ex Parte Petition by the IRS for Leave to Serve 'John Doe' Summonses on FedEx Corporation, DHL Express (USA), Inc., United Parcel Service, Inc., the Federal Reserve Bank of New York, The Clearing House Payments Company LLC, HSBC Bank USA, National Association, The Bank of New York Mellon Corporation, Wells Fargo Bank, National Association, Citibank, National Association, UBS AG, Bank of America, National Association, Deutsche Bank Trust Company Americas, and Nevis Services Limited as part of an investigation into suspected tax evasion by clients of Trident Trust Group, filed at the U.S. District Court for the Southern District of New York.

Dubai-based BVI investment firms ‘All Blue’ seek Chapter 15 bankruptcy recognition in U.S. amid investigation into ‘$126M naked short trade losses’

December 16, 2024
The liquidators of Dubai-based, British Virgin Islands-domiciled All Blue Investments North Star 1 Ltd. and All Blue Investment Management Ltd. have filed for Chapter 15 bankruptcy recognition in Miami amid an investigation into losses of $126 million from "improper naked short trades" and the suspected shifting of trading profits to two Cayman Islands affiliates, Red Rowan Investments Ltd. and Washington Muse Investments SPC.

Probis Financial Services PTY Ltd. v. City Credit Investment Bank Ltd.: Grounds of Judgment (Contested Appointment of Liquidator)

December 10, 2024
Grounds of Judgment appointing Luke Furler as liquidator in Probis Financial Services PTY Limited, of Australia, described as a company in voluntary administration that "carried on business as a financial and insurance service provider" v. City Credit Investment Bank Limited, of Labuan, at the High Court in Sabah and Sarawak at the Federal Territory of Labuan, Malaysia.

Yao Guoliang v. Speed Success Group Ltd.: Winding Up Petition (‘Loss of Confidence’)

December 3, 2024
Winding Up Petition in Yao Guoliang, of Hong Kong v. Speed Success Group Limited, described as a shareholder in Strong Petrochemical Holdings Limited, which is "the listed holding company of a group of subsidiaries and related entities" with "operations in Hong Kong, Mainland China, Macau and Singapore" whose "core business ... is the trading of crude oil, petroleum products and petrochemicals", at the Grand Court of the Cayman Islands.

Silicon Valley Bank (Cayman Islands) v. FDIC: Complaint (‘Failure to Cover Foreign Depositors’)

November 22, 2024
Complaint for Declaratory Judgment, Violation of Due Process Rights, Review of Final Agency Action, Estoppel, Unjust Enrichment, and Violation of Due Process in Niall Ledwidge, Michael Pearson, and Andrew Childe, as Joint Official Liquidators of Silicon Valley Bank (in Official Liquidation) and Silicon Valley Bank, of the Cayman Islands v. Federal Deposit Insurance Corporation and Martin J. Gruenberg at the U.S. District Court for the Northern District of California.

BIT Mining Ltd.: Order (‘Japan Bribery’)

November 18, 2024
Administrative Order regarding "violations of the anti-bribery, books and records, and internal accounting controls provisions of the Foreign Corrupt Practices Act" in U.S. Securities and Exchange Commission v. BIT Mining Ltd., of the Cayman Islands.

USA v. BIT Mining Ltd.: Criminal Information (‘$1.9M Bribes’)

November 18, 2024
Criminal Information alleging Conspiracy to Violate the Foreign Corrupt Practices Act and to Falsify Books and Records in USA v. BIT Mining Ltd., formerly known as 500.com Ltd., described as a Cayman Islands-domiciled, Hong Kong-based crypto mining company, at the U.S. District Court for the District of New Jersey.

Knighted Pastures LLC v. Ourgame International Holdings Ltd. et al: Complaint (‘Breach of Fiduciary Duty’)

November 12, 2024
Complaint in Knighten Pastures LLC v. Yangyang Li, Yuanfei Qu, Zongmin Ding, Mao Sun, Chi Zhao, Jingsheng Lu, Guanzhou Qin, Yushi Guo, Ourgame International Holdings Ltd., of the Cayman Islands; Primo Vital Ltd., Yellow River Global Capital, of Hong Kong, and Blue Planet New Technology Limited, of the British Virgin Islands, as Defendants, and Allied Gaming & Entertainment Inc., as Nominal Defendant, at the Court of Chancery of the State of Delaware, USA.

USA v. 143,141.22354808 IC et al: Forfeiture Complaint (‘FTX Chinese Crypto Bribe’)

November 12, 2024
Forfeiture Complaint regarding crypto seized from an account at Binance that is "traceable" to an alleged scheme in which FTX crypto exchange principal Sam Bankman-Fried "agreed to and directed a multi-million-dollar bribe to seek to unfreeze certain cryptocurrency trading accounts that collectively contained approximately $1 billion in cryptocurrency" which had been seized by Chinese law enforcement in USA v. 143,141.22354808 Internet Computer, 21,040.21498360 Avalanche, 7,668,131.89194094 Ripple, 3,947,566.56755894 Cardano, and 43,137.54120377 Solana at the U.S. District Court for the Southern District of New York.

FTX sues crypto exchange Binance to clawback $1.8B in ‘fraudulent transfers’

November 11, 2024
FTX - which "may have been insolvent from inception" - has sued rival crypto exchange Binance in an attempt to recover $1.76 billion of "fraudulent transfers" in a dispute whose parties are entities or individuals in Antigua, Bahamas, British Virgin Islands, Cayman Islands, China, Hong Kong, Ireland, and USA.

FTX Trading Ltd. v. Deng Jun et al: Complaint (‘$468M Preferential Transfers’)

November 10, 2024
Complaint in FTX Trading Ltd., of Antigua and Barbuda v. Deng Jun, Shen Ling, Tu Jing, Deng Dingyuan, Deng Lan, Deng Jian, Tu Fan, Pan Yang Lian, Hu Jingming, Hu Sifeng, Yang Yuhua, Qin Yong Qiang, Huang Yao, Dai Fuyang, Fu Ling, Chen Chao, Shen Liugen, Lin Guodong, Yang Yibo, Xu Min, Xu Hong, Wan Jian, Wu Qiao, Wu Tianming, Li Ping, Jia Shuyun, and John Does 1-20, collectively described as "members of an international criminal syndicate who used FTX to launder billions of dollars in criminal proceeds", at the U.S. Bankruptcy Court for the District of Delaware.

FTX Trading Ltd. et al v. Binance Holdings Ltd. et al: Complaint (‘$1.8B Fraudulent Transfers’)

November 10, 2024
Complaint in FTX Trading Ltd., of Antigua and Barbuda; Alameda Research LLC, Alameda Research Ltd., of the British Virgin Islands; West Realm Shires Inc., West Realm Shires Services Inc., Clifton Bay Investments LLC, Cottonwood Grove Ltd., of Hong Kong; Euclid Way Ltd., of Antigua and Barbuda; Paper Bird Inc., and FTX Digital Markets Ltd., of the Bahamas v. Binance Holdings Limited, of the Cayman Islands; Binance Capital Management Co. Ltd., of the British Virgin Islands; Binance Holdings (IE) Limited, of Ireland; Binance (Services) Holdings Limited, of Ireland; Changpeng Zhao, Dinghua Xiao, of China; Samuel Wenjun Lim, and Does 1-1000 at the U.S. Bankruptcy Court for the District of Delaware.

Blue Axis Global Ltd. v. Alopex Advisors LLC: Petition (‘$4M Security Deposit’)

November 6, 2024
Petition for an Order of Attachment in Aid of Arbitration in Blue Axis Global Ltd., of the British Virgin Islands, and Longbyte Inc., of Delaware, USA, both "part of a world-wide group of affiliated companies known as the Bixin group that are beneficially owned by Mr. Wu Gang, a citizen of the People’s Republic of China" v. Alopex Advisors LLC, of New York, USA, at the U.S. District Court for the Southern District of New York.

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.

Food Investments SpA et al v. Isidoro Quiroga Moreno et al: Amended Complaint (‘$600M Fraud’)

October 28, 2024
Amended Complaint alleging "a massive fraud perpetrated in connection with plaintiffs' 2019 acquisition of a group of Chilean companies engaged in the salmon farming industry" in Food Investments SpA and Australis Seafoods S.A., both of Chile v. Isidoro Ernesto Quiroga Moreno, described as a resident of London, England, and Santiago, Chile, and South Lake One LLC, described as being domiciled in Delaware, USA, and based in Chile, at the Court of chancery of the State of Delaware, USA.

OC Ventures et al v. Ivy Fund Manager LLC et al: Complaint (‘$34M Loan’)

October 25, 2024
Complaint in OC Ventures, of the Cayman Islands, and Yanglong Song, a citizen and resident of China v. Ivy Fund Manager LLC, described as Delaware-domiciled, North Carolina-based "real estate investment and holding company, whose portfolio is comprised of student housing properties in the United States, including properties in Illinois, New York, North Carolina, and Alabama", and Shangxuan Tan, described as a resident of Singapore, at the U.S. District Court for the Southern District of New York.

Kaisa Group Holdings Ltd.: ‘Scheme of Arrangement’ Petition (Cayman Islands)

September 30, 2024
Petition for the Court's Sanction of a Scheme of Arrangement in the matter of Kaisa Group Holdings Ltd., described as "an investment holding company of a group comprising the Company and its directly and indirectly owned subsidiaries that are located across various jurisdictions, including amongst others, the Cayman Islands, BVI, Hong Kong and the People’s Republic of China", at the Grand Court of the Cayman Islands.

CFTC v. Aipu Ltd. et al: Complaint (‘$3.6M Investment Fraud’)

September 27, 2024
Complaint alleging a "fraudulent investment scheme" that defrauded "at least $3,630,848.90 from not less than 32 customers" in Commodity Futures Trading Commission v. Aipu Limited, of England; Fidefx Investments Limited, of England; Chao Li, of China; Qian Bai, of China, and Lan Bai, of Oklahoma, USA, at the U.S. District Court for the Western District of Washington.

GDC Technology Ltd. v. JoveAI Innovation, Inc.: Discovery Application (China)

September 25, 2024
Application by GDC Technology Ltd., described as British Virgin Islands-domiciled, Hong Kong-based "leading global digital cinema solutions provider", to take discovery from JoveAI Innovation, Inc. for use in legal proceedings in China "between Appotronics Corporation Limited and Applicant", filed at the U.S. District Court for the Northern District of California.

Hong Kong trustees of ‘uncooperative’ Chinese $74M bankrupt Kwan Cheung seek U.S. assets

September 19, 2024
The Hong Kong trustees of 'uncooperative' Chinese bankrupt Kwan Cheung, who owes more than $74 million and has business interests in multiple jurisdictions, including Australia, British Virgin Islands, Cayman Islands, China, Hong Kong, and United States, have applied for Chapter 15 recognition in California as they hunt for her assets. Cheung's "largest creditor" is Cayman-domiciled CM International Capital Ltd., with a claim of "more than $35 million".

Kwan Cheung: Chapter 15 Petition (Hong Kong)

September 18, 2024
Chapter 15 Petition for Recognition of a Foreign Main Proceeding in Hong Kong by Vincent Fok and and Daniel Chow, of FTI Consulting, as the Foreign Representatives of Kwan Cheung, a.k.a. Freada Cheung, whose "current whereabouts are unknown" but who "maintains significant ties to Hong Kong, including ownership of real property, equity in Hong Kong-registered companies, Hong Kong bank accounts, and securities firm accounts", "has also owned or currently owns equity in companies in mainland China, Australia, the U.S., and the Cayman Islands", and "appears to have established multiple holding companies in the British Virgin Islands", filed at the U.S. Bankruptcy Court for the Central District of California.

Sinopharm Tech Holdings Ltd.: ‘Share Reduction’ Petition

September 10, 2024
Petition for a reduction of capital in the matter of Sinopharm Tech Holdings Limited, described as a Hong Kong-based "ultimate holding company of a group of subsidiaries that is principally engaged in the supply chain business of healthcare products in Hong Kong and the People's Republic of China", at the Grand Court of the Cayman Islands.

Silicon Valley Bank (Cayman Islands Branch) v. FDIC et al: Plaintiffs’ Opposition to Motion to Dismiss (‘Discrimination Against Chinese Depositors’)

September 9, 2024
Plaintiffs' Memorandum of Law in Opposition to Defendants' Motions to Dismiss in Niall Ledwidge, of Stout; Michael Pearson, and Andrew Childe, both of FFP, as Joint Official Liquidators of Silicon Valley Bank (Cayman Islands Branch) v. Federal Deposit Insurance Corporation, as Receiver of Silicon Valley Bridge Bank, N.A. and Silicon Valley Bank, Santa Clara; George R. Fritz, Janine D. Henkes, and John Does 1-100 at the U.S. District Court for the District of Columbia.