Amit Haria

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

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.