Monthly Archives: February 2009

Telenor to appeal $1.7bn damages award

Telenor plans to appeal a decision of the Omsk Appeal Arbitration Court in Russia, which satisfied the claim of the British Virgin Islands-based company Farimex Products, and said that the Norwegian telecoms operator should pay approximately $1.7bn in damages to … Continue reading

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Another BVI company sued by shareholders of Madoff feeder funds

The case of Bernard Madoff, the notorious Wall Street manager who is now sued by many investment funds (including those registered in BVI) whose shareholders invested money in his companies, continues to grow. The special US trustee who tries to … Continue reading

Posted in BVI Investment Funds, Investigation, Litigation | Leave a comment

Bulgaria’s Overgas Inc. might hide its beneficiaries through a network of BVI entities and nominal directors

This month, after the end of the Ukrainian-Russian gas conflict, deliveries of gas were restored to Bulgaria, and Bulgarian officials announced that they would still try to remove two middleman companies –  Overgas, Inc., and Wintershall Erdgas Handelshaus Zug AG … Continue reading

Posted in BVI Companies, Money Laundering, Offshore secrecy, Offshore tax havens, Unethical business practice | Leave a comment

Hedge funds in BVI and Cayman supposed to be threatened

Some offshore analysts are warning that thousands of hedge funds registered in offshore tax havens probably will fold in 2009. The restructuring company Zolfo Cooper that makes such forecast is preparing for a surge of activity in offshore tax havens. … Continue reading

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Dispute on the deal between the Philippine National Construction Corporation and BVI-registered Radstock

The Government Corporate Councel (GCC) of Philippines was asked by Supreme Court Justices on the legality of the P6.2 billion compromise agreement between the Philippine National Construction Corporation (PNCC) and Radstock Securities Limited Inc, a special purpose asset vehicle registered … Continue reading

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