Mossack Fonseca & Co (B.V.I.) Ltd – In Liquidation
Update | April 2019
The Liquidators have completed and issued their Preliminary Report (the “Report”) which was provided to all known creditors on 14 March 2019.
The Report outlined the steps taken by the Liquidators and the additional actions and enquires that are necessary. The Liquidators enquires are ongoing in this regard.
Any creditor who did not receive the Report is invited to submit their contact details to the Liquidators.
British Virgin Islands – On 14 January 2019, Mr Darren Reeds and Mr Ryan Jarvis, of Deloitte Ltd (British Virgin Islands) were appointed Joint Liquidators of Mossack Fonseca & Co (B.V.I) Ltd (“Mossack” and “the Company”).
The appointment was by an Order dated 14 January 2019 of the Eastern Caribbean Supreme Court in the High Court of Justice (Commercial Division) of the British Virgin Islands ("BVI"), in accordance with the Virgin Islands Insolvency Act 2003.
Mossack was at one point the largest registered agent in the BVI providing; registered agent, registered office, trust and fiduciary services to over 100,000 BVI Companies. The wider Mossack Fonseca group, historically had in excess of 40 international offices.
A major leak of sensitive Mossack Fonseca group client data occurred in 2016. This garnered global media attention, due to some of the high profile names identified as holding offshore structures. Subsequently, a number of arrests of certain senior management of the Mossack Fonseca group were made, relating to allegations of money laundering.
Following the damage done to the reputation of the wider Mossack Fonseca group, the position of the Company deteriorated with a loss of client base. In 2018 Mossack ceased operations in the BVI.
The Liquidators have been appointed to investigate the affairs of the Company and to identify, protect and realize any remaining assets for the benefit of creditors.
In consideration of access made available to the Deloitte – Mossack Fonseca & Co (B.V.I.) Ltd Liquidation website (the "Site"), the recipient hereby agrees to keep confidential all information contained herein or made available for download on the Site in connection with the Mossack Fonseca & Co (B.V.I.) Ltd Liquidation (the “Liquidation”). Access to the Site has been granted to stakeholders including Creditors (the “Parties”) for informational purposes only and upon the express understanding that each of the Parties will use it only for information purposes relating to the Liquidation. No information made available on the Site should be disclosed, in whole or in part, to any other party without the express permission of the Joint Liquidators. Any reference to Creditors is not intended to be nor does constitute an admission that the recipient or any Party is in fact a creditor of the Company.