Labuan

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Labuan FSA: Business Restrictions (October 30, 2024)

October 30, 2024
Public Notice by the Labuan Financial Services Authority regarding business restrictions on 31 Labuan Licensed Entities "for non-compliance to minimum capital and/or other regulatory requirements".

Labuan FSA: Business Restrictions (October 18, 2024)

October 18, 2024
Public Notice by the Labuan Financial Services Authority regarding business restrictions on 26 Labuan Licensed Entities "for non-compliance to minimum capital and/or other regulatory requirements".

City Credit Investment Bank Ltd. v. Citibank, N.A. et al: Discovery Application (Malaysia)

October 17, 2024
Application by Luke Furler, as the liquidator of Malaysia-based City Credit Investment Bank Ltd., to take discovery from Citibank, N.A., Bank of America, N.A., Deutsche Bank, AG, Deutsche Bank Trust Company Americas, New York, JPMorgan Chase Bank, N.A., Bank of New York Mellon Corp., Chase Manhattan Bank New York, and Credit Lyonnais New York for use in legal proceedings in Malaysia regarding a "global fraud" in which "an estimated 17,000 individuals" are "owed approximately 1.1 Billion U.S. Dollars", filed at the U.S. District Court for the Southern District of New York.

Labuan FSA: Business Restrictions (July 27, 2024)

July 27, 2024
Public Notice by the Labuan Financial Services Authority regarding business restrictions on 25 Labuan Licensed Entities "for non-compliance to minimum capital and/or other regulatory requirements".
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.

UW Global Inc.: Notification (Labuan)

January 8, 2024
Public Notice by the Labuan Financial Services Authority regarding regulatory action against UW Global Inc., which is "restricted from undertaking any new business" and required "to take immediate action to honour and pay all overdue payments to its existing clients".

Spectra SPC: ‘Court Supervision’ Petition

April 21, 2023
Petition for Court Supervision of a Voluntary Liquidation by Martin Trott, Osman Arab, and Johnathan Lai, as Joint Voluntary Liquidators of Spectra SPC (in Voluntary Liquidation), at the Grand Court of the Cayman Islands.
Drio Item, Julius Capital Bank

Swiss lawyer Dario Item lied to obtain Antigua banking license, judgment shows

March 24, 2022
Madrid-based Swiss lawyer Dario Item, 49, who serves as Antigua and Barbuda's Ambassador to Spain, Liechtenstein, and Monaco, lied to Antigua's financial regulator when successfully applying for a bank license in 2018, apparently to conceal an investigation in Labuan that led to his corporate disqualification and the closure of his bank there the following year, OffshoreAlert can reveal.

Best Re (L) Ltd.: Winding Up Notice

May 20, 2021
Public Notice by the Labuan Financial Services Authority that a court in Malaysia has ordered the winding up of Best Re (L) Limited.

Oliver Bellenhaus: Directorship Suspension

February 22, 2021
Public Notice by the Labuan Financial Services Authority that it has suspended the directorship of Oliver Bellenhaus, a citizen of Germany, in Adaugusta Limited.

Premier Assurance Group SPC Ltd.: Amended Chapter 15 Petition (Cayman Islands)

November 3, 2020
Amended Chapter 15 Petition for Recognition of a Foreign Main Proceeding in the Cayman Islands by Jeffrey Stower and Jason Robinson, of KPMG, as the Foreign Representatives of Premier Assurance Group SPC Ltd. (in Provisional Liquidation), at the U. S. Bankruptcy Court for the Southern District of Florida.

Proximity Aerospace Ltd. v. Stellar Aviation Company Inc.: Complaint

October 28, 2020
Complaint in Proximity Aerospace Ltd., of Labuan, for itself and as assignee of certain rights and interests of JetSmart Aviation Ltd., of the Seychelles v. Stellar Aviation Company Inc., of Delaware, at the U. S. District Court for the Southern District of Florida.

Antigua Ambassador Dario Item given bank license despite corporate ban

April 20, 2020
Antigua and Barbuda's banking regulator appears to have fast-tracked a licensing application by one of the country's diplomats - London-based Swiss lawyer Dario Item - after his bank in Labuan ran into regulatory problems and he received a corporate ban, OffshoreAlert can reveal.

Dario Item et al: Regulatory Update

March 24, 2020
Update by the Labuan Financial Services Authority regarding a lessening of previously-imposed penalties against Dario Item, a London-based, Swiss attorney who serves as Antigua and Barbuda's Ambassador to Spain, Monaco, and Liechtenstein; Andrea Mezzi, a citizen of Italy; Mauro Giacomo Silva, a citizen of Italy; Blue Investment Bank Inc., and Blue Wealth Management Ltd., including the cessation of corporation disqualifications.

Labuan FSA Enforcement Actions: March 2, 2020

March 2, 2020
Enforcement Actions taken by Labuan Financial Services Authority on Labuan Licensed Entities from December 2015 to February 2020. The latest license revocations concern AbaUnion Limited, Better Place Strategic Investment Ltd.,FinFX Global Markets Limited, Advisers Worldwide (Malaysia) Limited, Opal Automart Pte Ltd., and Asian Trade Investment Bank.
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