Monthly Archives: December 2013

BVI FSI issued Advisory Warning on European Union National Clearance Agency

The British Virgin Islands Financial Services Commission (BVI FSC) issued Advisory Warning No. 26 of 2013, concerning the company known as European Union National Clearance Agency. This company, offering financial clearing and settlement services, has a false incorporation certificate purporting … Continue reading

Posted in Unethical business practice, Unlicensed offshore services | Leave a comment

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

Posted in BVI Companies, Liquidation | Leave a comment

BVI investment fund sues HSBC’s arm over Madoff Ponzi scheme

HSBC Institutional Trust Services Ireland Ltd, (HITSI), which is the Irish arm of HSBC bank, is being sued by the British Virgin Islands investment fund. Defender Ltd. has sued HITSI for about US$540 million over alleged breaches of a custodian … Continue reading

Posted in BVI Investment Funds, Litigation, Offshore investment schemes, Ponzi scheme | Leave a comment