Cathay Bank

Application by Cosimo Borrelli and Jacqueline Walsh, as liquidators of Galleria (Hong Kong) Limited (in Compulsory Liquidation), to take discovery from R. Todd Neilson, the Chapter 11 Trustee of Galleria USA, Inc., for use in legal proceedings in Hong Kong, filed at the U. S. District Court for the Central District of California.

A United Kingdom-based accounting firm accused of fraud involving an offshore bank has gone into liquidation and its two partners declared bankrupt. Orders to wind-up Dobb White & Co., of Leicester and Nottingham, in England, and bankrupt Shinder Singh Gangar and Alan White were issued by the UK High Court on December 2, 2003.

A federal court in the United States has entered a $130 million judgment against a businessman who perpetrated an investment fraud using several offshore structures. The judgment, entered on June 6, 2003 at the U. S. District Court for the Western District of Virginia, requires Terry Dowdell to pay disgorgement of $121.2 million, $8.6 million in prejudgment interest and a fine of $1 million.