The government of the Cayman Islands announced last week that although it has, as yet, received no formal requests from the US authorities regarding the investigation into collapsed US giant Enron, it is ready and willing to cooperate in whatever way necessary.
The former energy trading company established a surprising number of offshore subsidiaries, some in the Cayman Islands, in order to hoodwink investors about the state of its accounts. The government revealed on Friday that two of Enron's subsidiaries in the Caribbean jurisdiction are already in the process of provisional liquidation.
Although the Cayman Islands are well known for their respect for financial privacy, banking secrecy is lifted for criminal investigations. The government announced that any requests for information in the Enron matter would be treated in accordance with Sections 30 and 43 of the Monetary Authority Law (2001 Revision).
.
Network Tweets
Network BlogsContent
provided by
|
Archive | Resources | Partners | Site Map | Links | Newsletter Archive | Contact | RSS Feeds | About | Syndication | Advertising & Marketing | Recruitment | Terms & Conditions | Privacy & Cookies
Copyright © 2012 - All Rights Reserved - Tax-News.com
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.
Write a comment