USERNAME: PASSWORD:
TAX-NEWS.COM
CONTACT | ABOUT | LEGAL | LINKS     
   NETWORK SITES:
   LOWTAX   
   TAX-NEWS   

Jurisdiction News Pages

Anguilla
Andorra
Aruba

Australia

Bahamas
Barbados
Belize
Bermuda
British Virgin Islands
Canada

Cayman Islands

Cook Islands
Costa Rica
Cyprus
Dubai
Gibraltar
Grenada
Guernsey
Hong Kong
Ireland
Isle of Man
Jersey
Labuan
Liechtenstein
Luxembourg
Madeira
Malta
Mauritius
Monaco
Netherland Antilles
Panama
Seychelles

South Africa

St. Kitts & Nevis
St Vincent & The Grenadines
Switzerland
Turks & Caicos Islands

UK

USA

Vanuatu

Newsletter

To receive monthly updates on new features in lowtax.net and tax-news.com just enter your e-mail address below:



Daily Tax Quote

The Network

3,000 free pages of accurate, timely information

Tax-News.com


Daily, updated news about tax and offshore from our team of 20 international journalists

Lowtax.net

'Low-tax' business and investment in the top 50 jurisdictions covered in exceptional detail

Investors offshore.com


Global information and advice for expatriates and international investors

Offshore-e-com.com

A topical guide to offshore e-commerce focused on tax and regulation

LawAndTax-News.com


Daily news and background data on tax and legal developments for international business

Swiss Extend Freeze On Duvalier Accounts, by Ulrika Lomas, for LawAndTax-News.com, Brussels
Monday, August 27, 2007

The Swiss government has announced that assets held in Swiss bank accounts by the former Haitian dictator Jean-Claude "Baby Doc" Duvalier will remain frozen for an additional year.

In an announcement after a meeting of the seven-member Swiss cabinet in Bern on Wednesday, government spokesman Oswald Sigg confirmed that the federal government "has decided to extend the freeze by 12 months." In June, the Swiss government had extended the temporary freeze on the CFH7.6 million contained in the accounts (US$6.3 million) by three months, which was due to expire on September 1.

Duvalier and his followers have been accused by Haiti's new government of siphoning off state funds during his reign, but the money in question has been caught up in legal wrangling ever since the Duvalier regime was ousted in 1986. Duvalier now resides in exile in France.

The original request for the freeze was lodged on behalf of two Haitian individuals, a priest and a taxi driver, who were persecuted under the Duvalier regime. The plaintiffs are trying to have a 1988 US court ruling, which ordered the Duvaliers to pay them US$1.75 million in damages, recognised in Switzerland. They also want the money in the Swiss accounts returned the the Haitian people and not to Duvalier.

According to the Associated Press, Swiss Foreign Ministry spokesman Jean-Philippe Jeannerat said that the extension followed assurances by Haiti that proceedings against Duvalier would be launched "in the near future", which is a necessary step for Switzerland to confiscate the funds.

Marc Henzelin, lawyer for the plaintiffs, has said that most of the money is held in one account with the Geneva branch of UBS, in the name of the "Brouilly Foundation" in Liechtenstein. The Brouilly Foundation is owned by a Panama-based company, which in turn is owned by members of the Duvalier family.

It is believed that another account is held by Duvalier in the Swiss city of Lausanne, but a lack of information has prevented Henzelin from mounting a legal challenge there.

.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


THE LOWTAX LIBRARY

One of the web's largest and most authoritative business and investment information sources. Alongside topical, daily news on worldwide tax developments, you can receive weekly newswires or access up-to-date intelligence reports on a range of legal, tax and investment subjects.

FREE TRIAL NEWS SUBSCRIPTION

Our 16 constantly updated intelligence reports cover every important aspect of 'offshore' and international tax-planning in depth, including banking secrecy, the EU's savings tax directive, offshore funds, e-commerce, offshore gaming and transfer pricing. Reports are available for immediate downloading or as subscription services with news pages.

Advertising & Marketing

With over 50,000 qualified readers every month our web-sites offer a number of cost effective, targeted advertising, sponsorship and marketing opportunities:

Display advertising - from 'skyscrapers' to 'buttons'
Content/article submission and sponsorship
Opt-in email marketing
On-line Services Directory listings

Click here to learn more or contact Peter Wiggins on +44 1424 425933 or email him at peter@lowtax.net

News & Content Solutions

Could your corporate web-site or newsletter benefit from incorporating regularly updated news and content tailored to serve your clients' interests? We can provide a variety of maintenance-free news and content solutions that can be seamlessly integrated and dynamically delivered:

Customised, personalised 'own-brand' news services
Newsletter content and management
News Headlines Tickers

Click here to learn more or contact Peter Wiggins on +44 1424 425933 or email him at peter@lowtax.net

Free Tax-News RSS Feed

Click here for a brief introduction to RSS and instructions on how to get the Tax-News feed.

IMPORTANT NOTICE: TAX-NEWS.COM has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments. All materials on this site copyright TAX-NEWS.COM 1999 to 2003. Contact us for further information.