Galmo Williams

The futility of the British legal system's obsession with secrecy in the age of the Internet was brutally exposed on the weekend with the publication of a long awaited final report by the United Kingdom Government into alleged corruption and

Two complaints alleging indebtedness against the Turks and Caicos Islands Government have been filed at courts in the United States over the last six weeks. The first complaint was filed at the Circuit Court for the 11th Judicial Circuit, for

Bahamas-based Leadenhall Bank & Trust Ltd., which was closed down by regulators seven months ago, may be insolvent by more than $11 million. That was the glum news for creditors in the first report of liquidator Craig A. (Tony) Gomez on December 9, 2005. On paper, the bank had shareholders' equity of $1.6 million as of October 3, 2005, with assets of $29,864,139, including $20.4 million in cash, and liabilities of $28,235,807. “However my review has revealed that the balance sheet includes loans and past due credit card receivables totaling $6.6 and $6.3 million, respectively, and that both balances are either unsecured or inadequately collateralized,” stated Gomez in his report.