Barry Herman

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Investors in Bahamas-domiciled MJ Select Global seek to recover $9.8 m in losses

Investors in a failed Bahamas-based investment fund have filed a lawsuit in the United States in which they are seeking to recoup $9.8 million of losses.The plaintiffs are investors in M. J. Select Global Ltd., which is in liquidation after suffering total losses of "at least $30-$40 million", according to the complaint.Several of the many defendants are based in the Bahamas, including M. J. Select Global Ltd., Oceanic Bank & Trust Ltd., Citco Fund Services (Bahamas) Ltd. and Lion Corporate Services Ltd.

Lawsuits filed against Fortis Fund Services

Two lawsuits have been filed at Bahamas Supreme Court following the collapse of the Bahamas-registered Oracle Fund, with the loss of more than $100 million. Plaintiffs in one lawsuit are HSBC Bank Middle East, HSBC Investment Bank PLC, HSBC Private Banking Nominees 1 Jersey Ltd, Hunter Douglas Holdings Limited, Lazamar Foundation,  Montsol Investments Inc.