http://bvi-grey-area.offshore-journals.com BVI offshore companies and offshore business Sat, 13 Mar 2010 13:07:30 +0000 http://backend.userland.com/rss092 en The credit card processing firm E-Clear, whose chief executive Elias Elia was named as the person controlling BVI-registered company Allbury Ltd., collapsed a month after the collapse of Flyglobespan, after it was pursued through the courts by PricewaterhouseCoopers administrators. Mr. Elias, who actually is at the heart of controversy surrounding the ... http://bvi-grey-area.offshore-journals.com/the-owner-of-bvi-registered-allbury-ltd-claims-e-clear-owes-him-25m-403.html Upon investigation made into the network of BAE Systems companies, the U.S. State Department has placed a “temporary administrative hold” on weapons export licenses of BAE Systems or companies using BAE Systems' products. This came when the BAE pleaded guilty on March 1 to accusations that it conspired to defraud ... http://bvi-grey-area.offshore-journals.com/us-put-hold-on-export-licenses-for-bae-systems-401.html Kludjeson International Limited (KIL), the company which issued a legal suit against a HK-based Hutchison Telecommunication Limited, accusing it of fraud, is currently in a legal showdown with institutions and personalities to win the ownership dispute of the mobile telecommunication company in the court. In the ownership struggle over KIL's subsidiary ... http://bvi-grey-area.offshore-journals.com/new-defendants-in-the-legal-dispute-over-ownership-of-kasapa-communications-limited-397.html 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 to the BVI company all its rights and interest over ... http://bvi-grey-area.offshore-journals.com/compromise-deal-between-bvi-company-and-philippines-state-owned-firm-denied-by-supreme-court-395.html 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 the ownership after defaulting on loans owed to HK-based businessman ... http://bvi-grey-area.offshore-journals.com/al-faraj-no-more-the-owner-of-the-portsmouth-club-393.html 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 able to establish the value of this investment. The investment ... http://bvi-grey-area.offshore-journals.com/investigation-of-trio-capitals-funds-investments-continues-391.html 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 recover documents. The case relates to SEC investigation into Rhino, the ... http://bvi-grey-area.offshore-journals.com/the-court-decision-in-favor-of-bvi-and-panama-companies-to-be-challenged-by-fsa-389.html The former North Las Vegas mayor Mike Montandon, who is now the governor candidate of Nevada from Republicans, last year received a $10,000 campaign contribution from the British Virgin Islands-registered company Forich Group Ltd. This BVI company is an affiliate of Runvee Inc., a development firm having real estate interests ... http://bvi-grey-area.offshore-journals.com/nevada-gubernatorial-candidate-to-receive-illegal-donation-from-bvi-company-387.html Companies linked to the property magnates Robert and Vincent Tchenguiz have filed creditors' claims  against the Icelandic bank Kaupthing.  The entrepreneurs lost a substantial part of their wealth when the bank suddenly collapsed in October 2008. In summer 2008 Robert Tchenguiz, one of the UK's major investors, whose business was controlled ... http://bvi-grey-area.offshore-journals.com/kaupthing-bank-sued-by-bvi-and-guernsey-based-companies-linked-to-property-magnates-385.html Corporate regulators appointed a trustee for an Australian-based Trio Capital Limited, believing US$47 million of its assets have been invested in a company registered in the British Virgin Islands. It is advised by the new trustee to make assessment of the assets of the superannuation entities, providing the authority with ... http://bvi-grey-area.offshore-journals.com/trustee-appointed-for-trio-capital-management-383.html