Declan Quilligan

Valiance Special Opportunities Fund of Funds Limited et al v. Cheyne New Europe Fund Inc.: Writ of Summons

September 1, 2011

Writ of Summons filed by Valiance Special Opportunities Fund of Funds Limited, and Valiance Special Opportunities Co-Investment Fund Limited, as General Partner and on behalf of Valiance Special Opportunities Co-Investment Master Fund LP, against Cheyne New Europe Fund Inc. at the Grand Court of the Cayman Islands.

Dan R. Waller, as Receiver for Dobbins Offshore Ltd. v. KPMG Accountants BV et al: Complaint

July 11, 2007

Complaint in Dan R. Waller, as Receiver for Dobbins Offshore Ltd. v. KPMG Accountants BV, formerly KPMG Accountants NV;  Citco Fund Services (Curacao) NV, Inter Caribbean Services Ltd., and Tortola Corporation Company Ltd. at the U. S. District Court for the Northern District of Texas.

Emails show Citco knew of Lancer fraud long before collapse, says Receiver

March 6, 2006

Fund administrator Citco knew that Lancer Offshore was fraudulently valuing assets nearly two years before the fund collapsed but its sole concern was how to extricate itself from the $400 million insolvency, rather than warn investors and regulators. That is the most serious allegation contained in a civil lawsuit that was filed as long ago as January 14, 2005 at the U. S. District Court for the Southern District of Florida but kept sealed until February 21, 2006 due to concerns that its release may breach a court order prohibiting disclosure of certain information. It is supported by copies of extraordinary email exchanges between Citco's senior executives that were disclosed in discovery that Citco opposed.

Here we go again: Citco accused of distributing false NAVs

August 3, 2005

An offshore fund administrator in the Netherlands Antilles has been caught up in a second hedge fund scandal in less than two years.Citco Fund Services (Curacao) NV is a defendant in a civil lawsuit filed on June 9, 2005 by investors in Dobbins Offshore, which was registered in the British Virgin Islands. KPMG (Netherlands Antilles), as the Fund's auditor, is also a defendant. The plaintiffs include companies in the Cayman Islands, France, Luxembourg and Switzerland.

Rift develops between Lancer Offshore Receiver and majority investors

December 31, 2004

A deep rift has developed between the SEC's Receiver of the failed Lancer hedge fund group and the majority of its investors. The group of investors, who claim to have invested more than $570 million in Lancer Offshore Inc. and The OmniFund Ltd., have accused Marty Steinberg of "antagonism" and a lack of co-operation.

Investors sue Lancer Group service providers for $570 m

March 18, 2004

Eighty-six investors from 19 countries who claim to have invested more than $570 million in the Lancer Offshore Group have filed a lawsuit against its directors, administrator, auditor and prime broker. The three biggest claimants are all based in Montreal, Canada: Fondation Lucie et Andre Chagnon, a charity with a claim for $100 million; Bombardier Inc., the world's biggest train maker and third largest civil aircraft manufacturer whose pension fund has a claim for $68 million; and the University of Montreal's pension fund, with a claim for $67 million.

Citco slammed by Lancer Group Receiver

January 31, 2004

An offshore fund administrator has been accused of "impeding" the investigation in the United States into the $600 million collapse of the Lancer group of hedge funds. Citco Fund Services (U.S.A.) Inc. has refused to turn over records concerning BVI-registered Lancer Offshore Inc. and The OmniFund Ltd., which its Netherlands Antilles affiliate administered.

Lancer Offshore Receiver’s first report paints gloomy picture

September 11, 2003

More than $600 million of the $1.15 billion invested in the Lancer Offshore group of hedge funds from 1995 to 2002 may be lost.The initial report of Lancer's receiver, Marty Steinberg, acting for the SEC, showed that investors put in