Neil Murdoch v. Malcolm Butterfield: Writ of Summons
Specially Endorsed Writ of Summons in Neil Murdoch v. Malcolm Butterfield at Bermuda Supreme Court.
Janet White v. Butterfield Family Trust et al: Originating Summons
Originating Summons in Janet Martha White v. BCB Paragon Trust Limited, as Trustee of the Butterfield Family Trust, and Malcolm Butterfield at Bermuda Supreme Court.
Wendall Brown v. Malcolm Butterfield: Writ of Summons
Writ of Summons in Wendall Brown v. Malcolm Butterfield at Bermuda Supreme Court.
Bermuda regulator seeks to wind-up IPOC group, prompts intelligence firm to seek stay of US lawsuit
Bermuda Supreme Court has set a date of April 27th to hear an application by a local regulator to have a provisional liquidator appointed over a mutual fund group that allegedly exists to launder the proceeds of corruption by a Russian government minister.
A petition to involuntarily wind-up IPOC Capital Partners Ltd., IPOC International Growth Fund Ltd., Gamma Capital Fund Ltd., Convergence Capital Ltd., Com Tel Eastern Ltd., First National Telecommunication Fund Ltd., Convergence Capital Management Ltd., Augmentation Investments Ltd., and Telco Overseas Ltd. was presented to the court on January 12, 2007 by Bermuda's Registrar of Companies.
KPMG (Bermuda) receives $1.7 m settlement from U. S. intelligence firm
A U. S. based intelligence firm agreed to pay $1.7 million in damages to settle an allegation that it corrupted a Bermuda government investigation into a local mutual fund, OffshoreAlert can reveal.Two sources have confirmed the size of the payment
Tri-Continental Exchange Ltd. et al: Chapter 15 Petition (Saint Vincent and the Grenadines)
Chapter 15 Petition for Recognition of a Foreign Main Proceeding in St. Vincent and the Grenadines by Malcolm Butterfield, Brian Glasgow, and Simon Whicker, as the Foreign Representatives of Tri-Continental Exchange Ltd., Combined Services Ltd., and Alternative Market Exchange Ltd., at the U. S. Bankruptcy Court for the Eastern District of California.
KPMG drops bribery lawsuit against US PI firm, but Bermuda Fund files similar complaint
A civil lawsuit in the United States that was notable for the unusual level of secrecy afforded to the parties by the judge has been dismissed.Bermuda-based KPMG Financial Advisory Services Limited and its two managing directors, Malcolm Butterfield and Michael Morrison, had been seeking $11 million in compensatory and punitive damages against Diligence LLC, a Washington, D.C.-based private investigative agency/risk management firm whose employees and advisers include former high-ranking officials within the CIA, FBI, US Government, UK Government and UK special forces.
US court denies motion to dismiss IPOC ‘bribery’ lawsuit
A U. S.-based intelligence-gathering firm has failed to have a civil lawsuit dismissed in which it is accused of bribing an employee of KPMG (Bermuda) to disclose information about an investigation into alleged money laundering by a sham mutual fund group known as IPOC.
Diligence LLC had asked the U. S. District Court for the District of Columbia to dismiss a complaint brought by KPMG Financial Advisory Services Ltd. and its Managing Directors, Malcolm Butterfield, and Michael Morrison, on the grounds that Bermuda was a more convenient forum and that an “indispensable party” is missing from the action, namely the Bermuda Government, which commissioned KPMG FAS to investigate IPOC.
Bermuda Gov’t suspected of whitewashing alleged $1 b money laundering scheme
A James Bond-like tale involving allegations of corporate espionage, bribery, corruption, and a Bermuda Government whitewash of a suspected $1 billion money laundering scheme is unfolding in a U. S. court.
Among the cast of characters are Russia's Telecommunications Minister, Leonid Reiman; a Bermuda-based, so-called mutual fund in which Reiman appears to be the only investor and which he may have used to launder the proceeds of corruption, IPOC International Growth Fund Ltd.; IPOC's banker, fund administrator, custodian, and accountant, Bermuda Commercial Bank; IPOC's Bermuda representative and provider of various services, including directors and officers, Wakefield Quin; the firm appointed by Bermuda's Minister of Finance to investigate IPOC, KPMG Financial Advisory Services Ltd.; and Diligence LLC, a Washington, D.C.-based intelligence-gathering firm that is headed by a former officer of the U.K. Security Service known as MI5 and whose advisors include a former Director of the CIA and the FBI.
Virginia Insurance Commissioner accused of abusing his authority
The Virginia Commissioner of Insurance has been accused of wrongfully seizing $57 million that allegedly belongs to insolvent Bermuda based captive First Virginia Reinsurance.Alfred W. Gross, as Deputy Receiver of Reciprocal of America and The Reciprocal Group Inc., allegedly illegally
First Virginia Re insolvent by $79m-$111 m, landmark ruling on company liquidations
Bermuda-based captive First Virginia Reinsurance Ltd. has a deficit of between $79 million and $111 million, according to a ruling at Bermuda Supreme Court.Details of the reinsurer's insolvency were contained in a written judgment on October 23, 2003 by Puisne Judge Ian Kawaley.
First Virginia Reinsurance Ltd.: Section 304 Petition
Section 304 Petition for Assistance in Insolvency Proceedings in Bermuda by Malcolm Butterfield and Michael Morrison, as the Foreign Representatives of First Virginia Reinsurance Ltd., at the U. S. Bankruptcy Court for the Eastern District of Virginia.
Enron Re has assets of just $9.58 million
Enron Corp's Bermuda-registered captive, Enron Re Ltd., has assets of just $9.58 million to meet its liabilities, according to bankruptcy court filings.
Creditors of the firm include Enron Corp., Enron North America, Risk Management & Trading Corp., European Finance Re and Harrington International Insurance Ltd.
Enron Re Ltd.: Section 304 Petition
Section 304 Petition for Assistance in Insolvency Proceedings in Bermuda by Malcolm Butterfield and Anthony McMahon, as the Foreign Representatives of Enron Re Ltd., at the U. S. Bankruptcy Court for the Southern District of New York.
Malcolm Butterfield, the Registrar of Companies v. Sentinel Insurance Company Limited
Malcolm Butterfield, the Registrar of Companies vs. Sentinel Insurance Company Limited - Bermuda Supreme Court
Belvedere Insurance liquidators chase ‘illegal’ dividends
The liquidators of Belvedere Insurance have placed its holding company, Caliban Holdings Ltd., into provisional liquidation in a bid to recover up to $2.2 million that was dividended out of Belvedere in 1996.Although Malcolm Butterfield and Anthony McMahon are seeking to recover the full amount on behalf of Belvedere's creditors, they are particularly concerned about $663,000 of the dividend that was technically illegal under Bermuda law.
Belvedere Insurance Company Ltd.: Section 304 Petition
Section 304 Petition for Assistance in Insolvency Proceedings in Bermuda by Malcolm Butterfield and Anthony McMahon, as the Foreign Representatives of Belvedere Insurance Company Limited, at the U. S. Bankruptcy Court for the Southern District of New York.
Brokers collect $5 m for Aneco liquidation fund
London Market brokers have collected more than $5 million for the account of the insolvent Bermuda-based Aneco Reinsurance Underwriting Ltd, the first meeting of Aneco creditors was told in Bermuda March 26.However the funds are subject to a "mareva injunction" freezing all Aneco's assets in the United Kingdom, according to provisional liquidator Malcolm Butterfield.
Aneco Re Chairman to sue
Aneco Reinsurance Underwriting Ltd chairman Mark Hardy has instructed his lawyers to commence legal proceedings against the underwriters, cedants and brokers responsible for handling Aneco's property catastrophe book of business.
The action, to be brought either in Bermuda or in London, will seek damages in connection with the underwriting and placement of this business with Aneco.
