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Why would a BVI licensed company, which didn’t take on US retail clients, file for bankruptcy protection in the US?

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asked Apr 17, 2017 by Anna (4,610 points)

1 Answer

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answered Apr 17, 2017 by Stan.Ostin (8,020 points)

While Gallant Capital Markets, is a company registered and located in the British Virgin Islands, its CEO Salvatore Buccellato is (according to UK filings) a US citizen resident in the United States. They believe that Mr. Buccellato, who has been CEO of Gallant since 2008, remains the controlling shareholder of Gallant via his US holding company Prime Trade Holdings Corp. The US filing would help protect Prime Trade Holdings and Mr. Buccellato against any claims made by creditors against Gallant.

commented Apr 17, 2017 by Anna (4,610 points)
Thank you Stan.

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