Monthly Archives: February 2010

Compromise deal between BVI company and Philippines state-owned firm denied by Supreme Court

The Supreme Court of Philippines in its resolution denied the P6.2-billion compromise agreement between government-owned Philippine National Construction Corporation (PNCC) and Radstock Securities, Ltd., a British Virgin Islands-registered firm with HK office address. Under the agreement, PNCC agreed to assign … Continue reading

Posted in BVI Companies, Court decisions, Litigation, Unethical business practice | Leave a comment

Al Faraj no more the owner of the Portsmouth club

The Saudi property tycoon Ali Al Faraj, who bought  a controlling stake of the Portsmouth club through the BVI-registered company Falcondrone Ltd, and was found not to have enough resources to rescue the club, now was forced to hand over … Continue reading

Posted in Investigation, Takeovers | Leave a comment

Investigation of Trio Capital’s funds’ investments continues

The ARP Growth Fund, managed by Trio Capital Limited, has invested $52 million through the British Virgin Islands in a fund of hedge funds. Trio Capital’s administrators (the accounting group PPB), which are investigating company’s managed investment schemes, were not … Continue reading

Posted in BVI Companies, BVI Investment Funds, Investigation, Offshore investment schemes | Leave a comment

The court decision in favor of BVI and Panama companies to be challenged by FSA

The Financial Services Authority (UK) is going to challenge a last year ruling in favour of BVI and Panama-based companies which said the FSA overstepped its powers by carrying out a request from the Securities and Exchange Commission (US) to … Continue reading

Posted in Litigation | Leave a comment