Georgina Wilcox

It would appear that it is the end of the road for Ryan Bateman’s Cayman Islands company B & C Capital Ltd to be wound up.

Local accountants Christopher Johnson and Graham Robinson of Chris Johnson Associates Ltd., have been appointed as joint official liquidators of the Company.

A Winding Up Petition from Lampten Corporation with offices at Tortola, BVI was issued in the Grand Court of The Cayman Islands on June 2nd 2016. This was followed up by a Winding Up Order from the same Grand Court on 22nd July 2016.

Between those dates two new directors of B & C Capital Ltd were appointed – Michael Pearson and Andrew Childe. Both we have been informed have now resigned.

On July 1st 2016 Ryan Bateman received a Decision Notice from the Cayman Islands Monetary Authority cancelling his director registration.

Bateman is accused of financial malpractice in the Cayman Islands that includes deducting exorbitant charges from clients funds, of co-mingling client funds with his own, and of using client funds for his own purposes.

The following is a transcribed copy of the aforementioned Winding Up Order:

IN THE GRAND COURT OF THE CAYMAN ISLANDS FINANCIAL SERVICES DIVISION

CAUSE NO: 71 OF 2016 (IMJ)

The Honourable Mrs Justice Mangatal

WINDING UP ORDER

UPON HEARING counsel for the Petitioner upon its petition dated 2nd June 2016 (“the Petition”) for an Order that B & C CAPITAL LIMITED (the “Company”) be wound up

AND UPON hearing counsel for the Company

AND UPON reading the Petition and the First Affidavit of Derek Buntain dated 2nd June 2016

IT IS ORDERED THAT:-

1. The Company be wound up in accordance with the Companies Law (2013 Revision) (as amended) (the “Companies Law”).

2. Mr Christopher Johnson and Mr Graham Robinson both of Chris Johnson Associates Ltd, Elizabethan Square, Shedden Road, PO Box 2499, George Town, Cayman Islands KY1-1104 be appointed as joint official liquidators of the Company (the “JOLs”).

3. The JOLs be authorised to exercise the powers listed in paragraphs 2, 10 and 11 of PART I of the Third Schedule to the Companies Law without further sanction or intervention of the Court.

4. The JOLs be authorised to commence proceedings for the recognition of their appointment by the courts of the United States of America, Canada and the Commonwealth of the Bahamas and to retain local counsel for such purpose on such terms as they consider appropriate.

5. The JOLs be authorised to do any act or thing considered by them to be necessary or desirable in connection with the liquidation of the Company and the winding up of its affairs.

6. The JOLs do file with the Clerk of the Court a report in writing of the position of the Company and the progress which the liquidators have made with the winding up of the Company, with the realisation of its assets and in relation to any other matters connected to the winding up of the Company, within three months of the date of this Order.

7. The JOLs be at liberty to appoint such counsel, attorneys, professional advisors, whether in the Cayman Islands or elsewhere, as they may consider necessary to advise and assist them in the performance of their duties and on such terms as they may think fit and to remunerate them out of the assets of the Company.

8. No disposition of the Company’s property by or with the authority of the JOLs in carrying out their duties and functions and exercise of their powers under this Order shall be voided by virtue of section 99 of the Companies Law.

9. The JOLs and their staff be remunerated for their professional services and time in accordance with Part Ill of the Insolvency Practitioners Regulations 2008 (as amended).

10. The JOLs be at liberty to apply generally.

11. The costs of the Petition and the Petitioner be paid out of the assets of the Company on the indemnity basis.

Dated the 22nd day of July 2016

Filed the 22nd day of July 2016

This Order was filed by Higgs & Johnson, Attorneys-at-Law for the Petitioner, whose address for service is at 2nd Floor, Willow House, Cricket Square, PO Box 866, George Town, Grand Cayman, KY1-1103