Mid-Ocean Trust closes in Bermuda after 12 months in business
Mid-Ocean Trust Company Ltd. is winding down its operations just over 12 months after setting up in Hamilton following disappointing levels of business from its main market, Canada.
Bank of Bermuda resigns as BFCL’s financial advisor
Bermuda International Investment Management Ltd - a subsidiary of the Bank of Bermuda - has resigned as financial advisor to the Bermuda Financial Centre Ltd after failing to raise $82.5 million to get the hotel, office and luxury residences project off the ground.
USA v. Roland Bleyer: Criminal Complaint
Criminal complaint for alleged fraud by USA against Roland Bleyer at the U. S. District Court for the Eastern District of New York.
Bank of Butterfield caught up in US stock scandal
The Bank of Butterfield has been caught up in a stock scandal that has hit some of Wall Street's best-known brokerage houses.One of the bank's clients - American Michael Morse - has been accused of ripping off brokers through a scam involving the technique of ‘short selling'.Butterfield was named as a defendant in a court action brought at Bermuda Supreme Court this week by giant US investment firm, Merrill Lynch.
Arnold Todd file to go to Bermuda AG
A police file on Arnold Todd and others allegedly involved in a multi-million dollar fraud ring will be sent to the Attorney-General's chambers early next month.But criminal charges are unlikely to be brought for several months, if they are brought at all, Acting Assistant Police Commissioner Superintendent Wayne Perinchief said last night.
Premium Sales Corporation v. Kenneth Thenen et al: Writ of Summons
Writ of Summons in Premium Sales Corporation, by Harley Tropin, as Receiver, v. Kenneth Thenen, Brenda Thenen, Scott Thenen, Daniel Morris, a.k.a. Daniel Rae; Samuel Schwartz, and Barclays Bank Plc at the Grand Court of the Cayman Islands.
Over 70 international banks represented in Bermuda
Tempting as it is to believe that international banking competition is next to impossible on a tiny island served by just three licensed banks, the belief could not be further from the truth.Bermuda's domestic banks compete for international business not only among themselves, but, increasingly, against powerful overseas financial institutions, some of which access the Bermuda market through local corporate vehicles that do not require banking licences.
Growth of insurance sector shakes up Bermuda’s banking industry
Insurance companies seldom come to Bermuda for banking services alone.But they'd be unlikely to stay without them. How else would the 1,324 insurance and reinsurance corporations domiciled here manage the billions of dollars of premiums ($15.41 billion gross and $11.81 billion net at the last count) they write every year?Yet while an efficient banking system has clearly been helpful to the Bermuda insurance industry, it is no less true that the specialised demands of Bermuda's insurers have served to work wonders for the financial systems of Britain's oldest colony.
John C. Zelaya et al v. Guardian Bank & Trust (Cayman) Ltd.: Writ of Summons
Writ of Summons in John C. Zelaya, Gerardo Hammerer, and DIA Financial Services, Inc. v. Guardian Bank & Trust (Cayman) Limited at the Grand Court of the Cayman Islands.
USA v. Edward C. Bodden et al: Superseding Indictment
Superseding Indictment in USA v. Edward C. Bodden, a.k.a. Jill Bodden; Everett Kyle Lane, Christopher Bain, Sibert Watler, a.k.a. Bert Watler; Executive Air Services, Ltd., and Inco Bank and Trust Corporation at the U. S. District Court for the Northern District of Florida.
USA v. William Kilpatrick et al: Order Dismissing Indictment
Findings of Fact, Conclusions of Law & Order of Dismissal in USA v. William A. Kilpatrick, Michael Alberga, Declan O'Donnell, John Pettingill, Sheila Lerner, CS Gill, CM Smith and The Bank of Nova Scotia at the U.S. District Court for the District of Colorado.
