Monthly Archives: February 2010

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

Posted on February 22, 2010 by Mike

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

Posted on February 15, 2010 by Mike

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

Posted on February 9, 2010 by Mike

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

Posted on February 3, 2010 by Mike

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