News about the Cayman Islands in the Foreign Press

Thursday,  June 9, 2005

Question about sale of public asset via the Cayman Islands

NEW ZEALAND – According to Scoop, New Zealand MP Winston Peters was due to ask the following parliamentary question: How can the Prime Minister have confidence in a Minister of Finance who allows a board to take a State-owned, people-owned, taxpayer-owned asset and flog it off via the Cayman Islands, and when will that Minister be required to sack the board, as any responsible Minister would do in those circumstances?

Digicel to offer fixed wireless in Cayman

BRIDGETOWN, Barbados – The Barbados Advocate reports that Digicel is preparing to diversify its operations by launching a domestic fixed wireless service before year-end.

According to Kevin White, Chief Executive Officer (CEO) of Digicel for the Eastern Caribbean, it means the company will be in a position to offer Internet services as an Internet service provider (ISP) and fixed domestic services over a wireless platform. “We are looking at fixed wireless options in Barbados initially and in St. Lucia in the next few months and also in Cayman and Jamaica [by] introducing fixed wireless so we can provide Internet and land-line services but over a wireless platform,” he said.

Defunct investment firm had plans for Cayman hedge fund

WEST PALM BEACH USA – According to the Palm Beach Post, when it came to fleecing Palm Beach’s wealthiest, KL Financial Group, the defunct high-risk investment firm, spared no expense in its downtown headquarters.

Palm Beach trust and estates lawyer Ronald Kochman, who as KL president attracted a majority of the fund’s investors, had his own windowed office. Still on Kochman’s desk are plans for KL to set up a Cayman Islands fund that would allow Korean investors to put their money in the hedge fund without paying US taxes.

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