Category Archives: BVI company default

No compensation for investors of Firepower BVI

Wealthy Australian-Romanian businessman Frank Timis said he would initiate free share issue to some investors of Firepower Operations, an Australian branch of the BVI-based Firepower Holdings Group Ltd. The businessman said that investors who had bought shares in a Cayman-based … Continue reading

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Liquidator of BVI-controlled Firepower calls for informal meeting of shareholders

Bryan Hughes, the liquidator of the failed fuel technology company Firepower Operations Pty Ltd, an Australian branch of the BVI-registered Firepower Holdings Group Ltd., has called an informal meeting of shareholders to look into suggestions that company’s previous directors are … Continue reading

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The update of the status of defaulted loan to Newco Group Ltd.

The U.S. oil and gas company JMG Exploration, Inc. announced that Newco Group Ltd., incorporated under the laws of the British Virgin Islands, has failed to repay a US$3mln loan and accrued interest and fees that was due in July … Continue reading

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