Category Archives: Liquidation

BVI-owned hotel’s placed on liquidation and put on sale

The Scotsman Hotel in Edinburgh, the five-star hotel with 150 staff was placed into liquidation in July 2016, after HM Revenue & Customs filed a winding up order against owners of JJW Hotels. In the beginning of July, JJW Hotel … Continue reading

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BVI company’s shareholders request for liquidation process

Following the announcement of the troubled oil and gas company Xcite Energy Limited on discussing the deal after which creditors would take under control 98.5% of its share capital, the principal shareholders moved to company’s liquidation. Being not satisfied with … Continue reading

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Liquidators of Kingate funds applied to BVI High Court

The Joint Liquidators of Kingate Euro Fund, Ltd and Kingate Global Fund, Ltd, BVI-based “feeder funds” involved in Bernard Madoff scheme, applied to the High Court of the British Virgin Islands seeking a direction that documents with information regarding investor … Continue reading

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BVI company being sued in US Court for breach of contract

Britannia, LLC has filed a complaint in the US District Court for the Southern District of NY against Avon Capital, LLC and Tranen Capital Alternative Investment Fund, Ltd. The case is related to the purchase agreement in which Avon Capital … Continue reading

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Suntech Power Holdings announced placing on liquidation of its BVI subsidiary

Suntech Power Holdings Co., Ltd., one of the world’s largest producers of solar panels, made an announcement that in November 2013, the Joint Provisional Liquidators of the company passed a sole shareholder’s resolution placing into liquidation the subsidiary of the … Continue reading

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Liquidators bring an action against BVI fund

The liquidators of Weavering Fund’s UK operation began a civil case in London’s High Court against Magnus Peterson, CEO of Weavering and manager of its Macro Fund. Along with other employees of the fund, he is alleged of the breach … Continue reading

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Madoff’s feeder funds’ liquidation procedure: important decision taken

The Joint Liquidators from KryS Global, a law firm working from four jurisdictions, including the British Virgin Islands, Cayman Islands, Bahamas and Bermuda, announced an important decision in the procedure of liquidation of the Fairfield Funds – Fairfield Sentry Ltd., … Continue reading

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Madoff’s feeder fund tries to recover money

Fairfield Sentry Ltd., one of Madoff’s feeder funds that transferred US$3.2 billion to him, sued a Swiss unit of Bank Morgan Stanley AG. The US fund, which is being liquidated under the supervision of the Commercial Division of the High … Continue reading

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SFO widens probe into Weavering Fund

UK’s Serious Fraud Office has widened its long-lasting investigation into hedge fund Weavering Capital and British Virgin Islands-registered offshore company Weavering Capital Fund Limited. The very complex investigation, which commenced more than a year ago with the liquidation of Weavering … Continue reading

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ARP Growth’s administrators cannot value the fund

The investors in the ARP Growth fund formally received a nil valuation of their investments, and now the losses from the fund’s manager Trio Capital Limited are to exceed US$180mln. The administrators of Trio Capital Limited, the accounting group PPB, … Continue reading

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