Barry McQuain

SEC v. Caledonian Bank Ltd. et al: Liquidators’ Support for Proposed Settlement

February 25, 2016

Memorandum of Caledonian Bank Ltd. and Caledonian Securities Ltd, in further support of the proposed settlement with the SEC in the U. S. Securities and Exchange Commission v. Caledonian Bank Ltd. and Caledonian Securities Ltd. at the U. S. District Court for the Southern District of New York.

Sentinel Trust has ‘no standing’ to block Caledonian Bank fraud settlement, say SEC & liquidators

February 23, 2016

The U. S. SEC and the liquidators of Cayman Islands-domiciled Caledonian Bank have objected to an attempt by Sentinel Trust Services to block their proposed settlement of a securities fraud complaint and have questioned Sentinel's claim to be the bank's "owner".

Caledonian Bank ‘owner’ seeks to block SEC settlement & force regulator to pay damages

February 12, 2016

Cayman Islands-domiciled Sentinel Trust Services - claiming to be the owner of Caledonian Bank - is seeking to block the bank's proposed securities fraud settlement agreement with the SEC and force the regulator to pay damages for causing the bank's collapse.

Caledonian Bank liquidators paint bleak picture for creditors

April 10, 2015

Cayman Islands-based Caledonian Bank has millions of dollars of related-party transactions that typically "can be difficult to recover full value" and is exposed to "a single large loan" of $93.7 million, representing more than half of all loans receivable. The grim news for creditors came in the first report of liquidators Keiran Hutchison and Claire Loebell.

Cayman regulator seems to wrongly identify Caledonian Bank’s ultimate beneficial owner

February 26, 2015

Research by OffshoreAlert indicates that insolvent Caledonian Bank is controlled by Canadian hedge fund boss and United States citizenship-renouncer Terry Duffy, not Curaçao-based hedge fund services provider Gordon Casey, as claimed by the Cayman Islands Monetary Authority in its petition to wind up the bank.

Cayman Islands Monetary Authority v. Caledonian Securities Ltd.: Winding Up Petition

February 23, 2015

Winding Up Petition in Cayman Islands Monetary Authority v. Caledonian Securities Limited at the Grand Court of the Cayman Islands.

Cayman Islands Monetary Authority v. Caledonian Bank Ltd.: Winding Up Petition

February 23, 2015

Winding Up Petition in Cayman Islands Monetary Authority v. Caledonian Bank Limited at the Grand Court of the Cayman Islands.

Caledonian Bank depositors tried to withdraw $68 m after SEC action, reveals judge

February 13, 2015

Caledonian Bank received requests for withdrawals of more than $68 million in the few days after being sued by the SEC in the United States last Friday, it has been disclosed.

Caledonian Bank and Caledonian Securities taken over by Cayman regulator

February 11, 2015

Caledonian Bank and affiliate Caledonian Securities have been taken over by their local regulator, the Cayman Islands Monetary Authority, four days after both were sued in the United States for alleged participation in a $75 million stock scam.

Caledonian Bank Limited: Liquidation Petition

February 11, 2015

Petition for a Court-Supervised liquidation In The Matter of Caledonian Bank Limited at the Grand Court of the Cayman Islands.

Bernard G. McGrath v. Caledonian Global Financial Services Inc.: Writ of Summons

June 13, 2014

Writ of Summons in Bernard G. McGrath v. Caledonian Global Financial Services Inc. at the Grand Court of the Cayman Islands.