Budiman Effendi

Probis Financial Services PTY Ltd. v. City Credit Investment Bank Ltd.: Grounds of Judgment (Contested Appointment of Liquidator)

December 10, 2024

Grounds of Judgment appointing Luke Furler as liquidator in Probis Financial Services PTY Limited, of Australia, described as a company in voluntary administration that "carried on business as a financial and insurance service provider" v. City Credit Investment Bank Limited, of Labuan, at the High Court in Sabah and Sarawak at the Federal Territory of Labuan, Malaysia.

Labuan’s City Credit Investment Bank liquidator seeks U.S. bank records for investigation into ‘$1B Ponzi scheme’

October 17, 2024

The liquidator of Labuan-based City Credit Investment Bank Ltd. has applied to take discovery from several banks in the United States for his investigation into a suspected $1.1 billion "global fraud" against 17,000 victims, most of whom are in Taiwan.

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.

City Credit Investment Bank Ltd.: Interim Liquidator’s Report (May 2024)

May 2, 2024

Report by Lule Furler, as the Interim Liquidator of City Credit Investment Bank Limited, of Labuan, for the period from October 16th, 2023 to April 15th, 2024.

CCAM Co. Ltd.: Directors (Cayman Islands)

November 15, 2023

Director Details for CCAM Co. Ltd., obtained from the Cayman Islands General Registry on November 15th, 2023.

City Credit Investment Bank Ltd.: Notice of Liquidation Petition (Labuan)

November 2, 2023

Public Notice by the Labuan Financial Services Authority that "a creditor petition for the winding up of City Credit Investment Bank Limited, a Labuan investment bank, had been filed in the High Court of Sabah and Sarawak at the Federal Territory of Labuan".

City Credit Capital (Labuan) Ltd.: Liquidation Notice (Labuan)

July 11, 2023

Public Notice by the Labuan Financial Services Authority that City Credit Capital (Labuan) Ltd., "a Labuan money broker had been placed under liquidation by way of creditors’ voluntary winding up".