Pacifico Global Advisors Ltd.: First Report of Liquidator
First Interim Report of Edmund Rahming, as Official Liquidator of Pacifico Global Advisors Ltd., at Bahamas Supreme Court.
Tristar Insurance Agents & Brokers Ltd. v. New Hope Holding Company Ltd.: Liquidation Petition
Petition in Tristar Insurance Agents & Brokers Ltd. v. New Hope Holding Company Limited at Bahamas Supreme Court.
$150,000 judgment against Bahamas accountant Philip Galanis
A final default judgment for $150,000 has been entered against Bahamas based accountant Philip Galanis at federal court in West Palm Beach regarding a personal guarantee that he provided for real estate construction loans that are in default.The judgment was
Insider Talking: May 12, 2010
Bermuda resident Eric Collins seemingly rues the day he agreed to serve as a director of Consensus Investments Ltd., which the SEC alleges was used to conceal insider trading in penny stock SHEP Technologies by Lines Overseas Management, Scott Lines,
Insider Talking: March 10, 2010
Democratic and Republican politicians alike in the USA fail to return Allen Stanford donations, including Charles Rangel, Max Baucus, John McCain and … gulp … Barack Obama!; victims of one of Canada's biggest hedge fund frauds prepare to sue Grant Thornton Bahamas; man charged with murder of British financial services provider Hywel Jones - police continue to investigate the person who ordered the hit; and a penny stock firm that vanishes into thin air exposes two ridiculous audits conducted by Bahamas firm HLB Galanis Bain
Bahamas accountant Philip Galanis sued for $4 million
Bahamas based accountant Philip Galanis is being sued for damages of $4 million regarding a personal guarantee that he provided for real estate construction loans that are in default. A civil complaint was filed against Galanis by Miami based private
Cordell Funding LLLP vs. Philip Galanis: Complaint
Complaint in Cordell Funding LLLP v. Philip Galanis at the U. S. District Court for the Southern District of Florida.
US court throws out Condor Insurance liquidators’ recovery action, HLB Galanis Bain provides audit for Bahamas spin-off
The liquidators of St. Kitts & Nevis-domiciled Condor Insurance, Ltd. have suffered a setback in their attempt to recover assets with a face value of US$313 million they claim were fraudulent transferred to a Bahamas-domiciled mirror company so that they could not be used to satisfy creditors' claims.
Ernst & Young (Bahamas) settle racketeering lawsuit for $3 million
Ernst & Young (Bahamas), its Senior Partner, Paul Clarke; and its former Managing Partner, Bahamian politician Philip Galanis, have agreed to pay $3 million to settle a civil lawsuit alleging racketeering.
Details of the settlement are contained in documents that were recently filed at the United States District Court for the District of Arizona.
Southwest Income Trust et al v. Philip Galanis et al: Motion for Determination of Good Faith Settlement
Motion for Determination of Good Faith Settlement in Jack G. Larsen, as Receiver for Southwest Income Trust, Advantage Income Trust, and Investors Trading Trust v. Lauriel Investments, Inc., Charles Smith, Standard Industrial Capital, Inc., Glen Roger Thompson, Progressive Growth Management Group, Ltd., Richard M. Kubany, Paul W. Floyd, III; James M. Floyd, Philip C. Galanis, Paul F. Clarke, and Ernst & Young at the U. S. District Court for the District of Arizona.
Ernst & Young (Bahamas) fails to have action dismissed
Ernst & Young (Bahamas), partner Paul Clarke and former partner Philip Galanis have failed to obtain the dismissal of a civil lawsuit filed against them in the United States.They now face a trial on allegations of investment fraud that were brought under the Racketeering Influenced and Corrupt Organizations Act.
Galanis, Ernst & Young (Bahamas) sued for alleged investment fraud
Ernst & Young (Bahamas), its former Managing Partner, Philip Galanis; and a current partner, Paul Clarke, are being sued in the United States for their role in an alleged $9.95 million investment fraud.
The complaint, which was filed on November 30, 2000 at the U. S. District Court for the District of Arizona, relates to the same events that led to Galanis being fired from Ernst & Young in 1997.