legal

1MDB Delays $603 Million Payment to IPIC

1Malaysia Development Bhd. (1MDB) revealed that it did not make a US$ 603 million payment to International Petroleum Investment Company (now part of Mubadala) due to a delay it faced from receiving the money. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


ZTO Express Faces Lawsuit Over Alleged Exaggeration of Profit Margins Before IPO

Some people called it China’s FedEx, ZTO Express (Cayman) Inc had its initial public offering (IPO) in 2016, luring institutional investors such as pensions and some sovereign funds. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


GPIF Announces Progress on Major Securities Litigation Cases

Japan’s Government Pension Investment Fund (GPIF) has announced a list of companies that they are involved in securities litigation. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


1MDB Scandal Prompts U.S. Legislators to Find Fix on Beneficial Owner Transparency

Two bills were recently introduced, one in the U.S. House of Representatives and the other in the U.S. Senate, that would mandate the U.S. Treasury to received detailed information on the beneficial owners behind shell companies. The bill would make U.S. corporations disclose in a private registry the beneficial owners of such entities. The registry […]


JURY CONCLUDES: U.S. Claims Largest Terror-Related Civil Forfeiture in its History

Iran-based Alavi Foundation owns 60% of 650 Fifth Avenue, a 36-floor office building in Manhattan, which is worth around US$ 500 million to US$ 1 billion. The Assa Corporation owns the other 40% of the building, which is an entity controlled by Bank Melli, an Iranian bank owned by its country’s government. Some of the […]


LOST AGAIN: Gassled Investors Lose in Appeals Court

The Gassled investors have lost again. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Anne Sheehan Named SEC IAC Chairwoman

The U.S. Securities and Exchange Commission’s (SEC) Investor Advisory Committee has a new chairwoman. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Fake Middleman Pleads Guilty, the Landmark 72 Building FCPA Saga

The U.S. Department of Justice (DOJ) got involved in a complex investigation that had a mixture of fraud, money laundering and violations of the U.S. Foreign Corrupt Practices Act (FCPA). The DOJ was able to catch Malcolm Harris who pled guilty before U.S. District Judge Edgardo Ramos to wire fraud and money laundering charges arising […]


SFO Levies Charges in Barclays Qatar Capital Raising Case

On June 20, 2017, the U.K. Serious Fraud Office (SFO) levied charges against Barclays Plc and four individuals with conspiracy to commit fraud and the provision of unlawful financial assistance contrary to the U.K. Companies Act 1985. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


U.S. DOJ Hopes to Get $540 Million from Corruption Surrounding 1MDB

The U.S. Department of Justice (DOJ) had filed civil forfeiture complaints int he U.S. Court for the Central District of California seeking the forfeiture and recovery of roughly US$ 540 million in assets associated with an international conspiracy to launder funds misappropriated from 1Malaysia Development Berhad (1MDB). [ Content protected for Sovereign Wealth Fund Institute […]


GPIF Sues Ernst & Young Affiliate Over Toshiba Accounting Scandal

Japan’s Government Investment Pension Fund (GPIF) is pursuing a wide range of legal options to recover damages from Toshiba Corporation’s accounting scandal in 2015. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


SHOE DROPS: GM Faces Suit on Alleged Diesel Emissions Cheating

Car manufacturers are under the sword from law firms and regulatory agencies when it comes to diesel nitrogen oxide emissions testing. Nissan, Subaru, Fiat Chrysler, Daimler AG, have all been accused or sued for using methods to dodge emission rules. The first casualty of stemming from the scandals was Volkswagen, which paid a heavy price […]


Some Senators Have National Security Concerns on Foreign Property Investors

Increasingly, sovereign funds, pensions, family offices, state-owned conglomerates, insurance companies and high-net worth individuals from abroad are gradually spending more money into U.S. real estate. Wealth funds have ramped up operations, having invested in properties such as Hudson Yards, the Empire State Building (indirectly) and the Chrysler Tower. The China Investment Corporation (CIC) officially opened […]


Institute Fund Summit 2017 Asia – Singapore Slider 15

Nathan Bear, Partner at Robbins Geller Rudman & Dowd LLP, contributes to the panel, tells the delegates why he got into this industry < PREVIOUS 16 of 20 NEXT > CONTACT INFORMATION General Information events(a)swfinstitute.org Membership Information vberretta(a)swfinstitute.org


Institute Fund Summit 2017 Asia – Singapore Slider 7

David Meredith maps out sovereign wealth funds. Stay tuned for Tribbles (Star Trek). < PREVIOUS 8 of 20 NEXT > CONTACT INFORMATION General Information events(a)swfinstitute.org Membership Information vberretta(a)swfinstitute.org


Libya Sovereign Fund and Societe Generale Agree to Settle Fraud Case

In a gesture to avert a high-publicity trial, French banking giant Société Générale SA had reached an agreement with the Libyan Investment Authority (LIA) to settle legal disputes regarding bribes and derivatives – thus avoiding a court case in London’s High Court. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe […]


london

Former PIFSS Director General to be Extradited Back to Kuwait Over Corruption Charges

The former executive (Director General), Fahad al-Rajaan, of Kuwait’s Public Institution for Social Security (PIFSS) has been arrested by U.K. authorities. Fahad al-Rajaan had been convicted and charged of corruption and embezzling public money in Kuwait when he was leading PIFSS. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to […]


Citigroup Defeats ADIA in Court Again, SWF Mandated to Pay Legal Fees

The Abu Dhabi Investment Authority (ADIA) had pursued a number of legal avenues which stem from its US$ 7.5 billion bailout of Citigroup Inc. Citigroup had won ADIA over the lawsuit, but ADIA kept pursuing a variety of legal channels. Ultimately, so far, Citigroup has prevailed in U.S. courts. ADIA was represented by Quinn Emanuel […]


Follow the Money – Episode 35

This episode was recorded on March 22, 2017. Rachel and Michael cover JASTA and the potential effects it will have on future investment activity. This episode has a special focus on legal issues and shareholder rights. There is also a debate on ethical investing and the costs of it. Download the Episode CONTENTS 1:05 Shareholder […]


Falcon Private Bank Pivots Away from Fallout of 1MDB Scandal

Zurich-based Falcon Private Bank, which was greatly affected by the fallout of the 1MDB scandal, is now getting a capital injection from Aabar Investments, a unit of Abu Dhabi’s International Petroleum Investment Co (IPIC). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]