Monthly Archives: December 2007

BVI companies fund large sums to support stem cells treatment research

The two British Virgin Islands companies, – GlobalNRG and Arcadia Oil, – have funded $US130 million in the research to back up the costly and, actually, unproven stem cells treatment at one of South American clinics. It was also said … Continue reading

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Danone loses a battle in China

Previously, the dispute between the French Group Danone SA  and its Chinese joint venture partner Wahaha Group was described. To remind, it resulted in Danone’s filing legal action against Ever Maple Trading Ltd., based in the British Virgin Islands. Later … Continue reading

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Bikbank’s license recalled for transferring money through BVI-, UK-, and Seychelles-based companies

On November 26, 2007, the Russian Central Bank ordered to recall the banking licenses of the Bank of Investment Capital (Bikbank), Saturn bank, and Samoletbank, as these banks many times violated laws on countering money-laundering activities. In a CB statement, … Continue reading

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BVI court confirms Turkcell stake in long dispute between its shareholders

In November, the court of the British Virgin Islands announced its judgement in the case of Russia’s Alfa Telecom Turkey Limited, – an affiliate of Alfa Telecom, one of Russia’s leading private equity telecommunications, – versus Cukurova Finance International Limited; … Continue reading

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Philippines company and its BVI-based parent company charged of fraud by SEC

In the beginning of this week, the Securities and Exchange Commission (SEC) said it had found fraud, and other violations of securities laws committed by Philippine-registered trading firm PIPC Corp., its officers and agents. The Singaporean owner of parent company … Continue reading

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Settlement agreement btw IPOC International Growth Fund Limited & BVI-domiciled LV Finance Group

On Thursday November 29, the High court of Hamilton (Bermuda) validated a matter settlement agreement between Bermuda company IPOC International Growth Fund Limited and  BVI-registered LV Finance Group Limited, owned by Alpha Group. The court’s validation finally brings to an … Continue reading

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The head of TSE speaks about stricter rules for private shares issue by third parties from BVI and other offshore jurisdictions

Last week, the head of the Tokyo Stock Exchange Atsushi Saito talked about the need to consider new rules for share issues that unfairly dilute minority shareholders, and in some cases are close to criminal. By his words, some firms … Continue reading

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