David Marchant

Man Group Ltd. et al v. Wafra Inc.: Discovery Application (England) British and Swiss investment firms that are part of the London-based Man Group have applied to take discovery in New York to aid its defense of a civil lawsuit against them in England by Kuwait’s state pension fund, the Public Institution for Social Security, which is seeking nearly $1 billion in damages.

All Blue Investments North Star 1 Ltd. et al: Chapter 15 Petition (British Virgin Islands) Two Dubai-based, British Virgin Islands-domiciled investment firms – “professional fund” All Blue Investments North Star 1 Ltd. and its investment manager All Blue Investment Management Ltd. – have filed for Chapter 15 bankruptcy recognition in the United States amid an investigation into conduct that also involves two Cayman Islands affiliates and which allegedly resulted in losses of $126 million from “improper naked short trades”.

In an attempt to identify clients of Trident Trust Group who are suspected of evading U.S. taxes, the IRS has applied to U.S. federal courts in New York, Georgia, and South Dakota for permission to serve 'John Doe Summonses' on courier services, financial institutions, correspondent banks, and a New York-based "client liaison and marketing" firm called Nevis Services Ltd.

Chris Tuohy v. JPMorgan Chase Bank NA et al: Discovery Application (England) British investor Chris Tuohy is seeking evidence from three banks in New York for use in a lawsuit in England against 39-year-old British businessman Akhil Tripathi regarding alleging breach of duty concerning the operation of financially-troubled snoring-products firm Signifier Medical Technologies.

Global Diversified Investment Company Ltd. et al v. Amicorp B.V.I. Ltd. et al: Claim Form (‘1MDB Dishonest Assistance’) The liquidators of former Malaysian sovereign wealth fund 1MDB have filed a second lawsuit in the British Virgin Islands against Hong Kong-based corporate services provider Amicorp Group and its Dubai-based CEO, Toine Knipping, this one seeking damages in excess of $1 billion for alleged fraudulent trading.

USA v. Trident Trust Company (South Dakota) Inc.: Court Docket (‘Tax Evasion Investigation Into Clients of Trident Trust Group’) United States federal courts in New York and South Dakota have entered orders authorizing the IRS to serve ‘John Doe’ summonses on 14 entities in an attempt to identify clients of corporate services provider Trident Trust Group who are suspected of evading U.S. taxes, while a third court in Georgia has yet to rule on a similar petition.

Binance.US v. Voyager Digital LLC et al: Complaint (‘$10M Breach of Contract’) Crypto exchange Binance.US is suing bankrupt crypto broker Voyager Digital for the return of a $10 million deposit it paid under an unconsummated deal to purchase “all or substantially all cryptocurrency on the Voyager platform”, move them to Binance, and return them to customers so they could continue trading.

USA v. Panayiotis Kyriacou et al: Criminal Indictment Saint Vincent and the Grenadines-based Loyal Bank has entered into a Deferred Prosecution Agreement with the U.S. Department of Justice to settle a criminal charge of conspiring to launder the proceeds of a fraud involving failure to comply with the Foreign Account Tax Compliance Act.

Equity Acquisition Company Ltd. et al: $3.9M Penalties (USA) Bermuda-based investment firm Equity Acquisition Company Ltd. and its Florida-based German principal Carsten Klein are being sued by a U.S. regulator for alleged failure to pay $3.9 million in penalties that were imposed nearly two years ago.

Light Doors LLC v. Iceberg Bitcoin Income Fund GP LLC et al: Complaint (‘Inspection of Records’) U.S. feeder funds for two Cayman Islands master funds that invest in crypto and are managed by New York-based investment manager Jacob Weinig via his Bahamas-based Iceberg Capital Group are being by investors who want to inspect the funds’ books because they suspect wrongdoing.