News about the Cayman Islands in the Foreign Press

Tuesday, May 4, 2004

Oil-backed loan to Angola routed through Cayman Islands

JOHANNESBURG, South Africa – IRIN News reports that a US$1 billion oil-backed loan to Angola from foreign banks, routed through the Cayman Islands, has been condemned by lobby group Global Witness as providing a scrutiny-free source of cash and undermining the efforts of the IMF.

Date set for trial of Cayman resident

TORONTO, Canada – According to Business Edge, the long-awaited resumption of former Bre-X geologist John Felderhof’s trial will probably take place on 6 December. Felderhof has been living in the Cayman Islands though recent reports suggest he has moved elsewhere to Central America or Indonesia.

Cayman-owned ship part of a series of groundings off Fort Lauderdale

FORT LAUDERDALE, USA – The Sun-Sentinel reports that the Pacific Mako, a 428-foot freighter owned by a Cayman Islands company was part of a series of ships that have grounded on the reefs north of Port Everglades, dislodging coral and shearing off sponges.

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