John Waldock

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Oceanic Bank settles MJ Select Global lawsuit for $3.8 m

Investors in a failed Bahamas based investment fund have secured a $3.8 million settlement of a civil complaint filed in the United States against the Fund's liquidator and its former banker.Under the terms of the settlement, investors in MJ Select

Investors in Bahamas-domiciled MJ Select Global seek to recover $9.8 m in losses

Investors in a failed Bahamas-based investment fund have filed a lawsuit in the United States in which they are seeking to recoup $9.8 million of losses.The plaintiffs are investors in M. J. Select Global Ltd., which is in liquidation after suffering total losses of "at least $30-$40 million", according to the complaint.Several of the many defendants are based in the Bahamas, including M. J. Select Global Ltd., Oceanic Bank & Trust Ltd., Citco Fund Services (Bahamas) Ltd. and Lion Corporate Services Ltd.