A ‘Sovereign Trust’ was established in 1998 by Robert Bruce Gray. He collaborated with constitutional lawyers, to verify the legitimacy of a private finance organization. In addition, a “Sovereign Trust Organisation” was established to oversee the operation of a private merchant bank. By 1999, the trust was restructured as a Sovereign Status Banking Organization in conjunction with a number of other Sovereign Trust Organisations established to oversee the operation of other companies under the umbrella of the organisation. Robert Bruce Gray remained in control with full Power of Attorney and as the sole signatory with jurisdiction over the Bank.
The “Sovereign Status Trusts” or “Sovereign Business Organisations” were created and given life through the power of the British Common Law which permits parties to enter into, and to fulfil contractual obligations, as a function at law, which cannot be impaired by any state or statutory legislative power.
A “Sovereign Status Trust” or “Sovereign Business Organization” is a contractual obligation or trust deed created between two consenting parties. The “Sovereign Status "Trust" or "Sovereign Business Organization” is not legislated or subject to regulatory restrictions in the practices of corporations or other entities.
Robert Bruce Gray established the Creditnet Bank Internationale (Creditnet) and was appointed permanent Chairman of the Board, by the Board of Governors.
Commonly, Creditnet transactions are facilitated by International Bills of Exchange (IBOE). IBOEs are financial instruments considered equivalent to cash payments upon submission and can be issued for significant amounts of monetary value. This has allowed Creditnet to commence trading in the Global Gold and Currency markets.
International Bills of Exchange have a reliable history as transactions prior to the initiation of electronic banking. Electronic banking has become the preferential framework for banking transactions of marginal values; however, IBOE is still a preferred mode of transit for many banks and is still mandated by the Commonwealth Bills of Exchange Act.
Robert Bruce Gray outlined the history of Bills of Exchange in a white paper he authored, pursuant to a request from the Australian Federal Treasury in 2004. Gray commented on the review of the Bills of Exchange Act Australia in and the possibility of electronic data management of Bills of Exchange. He outlined the methodology of the United Nations UNCITRAL Convention on Bills of Exchange, which dictates that Bills of Exchange MUST be documented in physical form, authorized by a handwritten signature, and physically delivered in order to convey valuable consideration in the Bill itself. Gray also outlined the manner in which HOW Bills of Exchange can be utilised to UNLOCK assets and be utilized to create monetized value. The Australian Federal Treasury review resulted in their decision to authorize the use of International Bill of Exchange in their current physical form.
Creditnet Bank Internationale currently owns and manages significant assets in the form of gold, cash, and other assets, used as asset-backing to issue International Bills of Exchange. Creditnet acts as the Trustee of significant holdings on behalf of discretionary benefactors who mandate the use of their assets in aid of humanitarian and infrastructure developments.
Quoting over 2,500 court cases as precedent, and pursuant to a number of Commonwealth Federal Legislations on Bills of Exchange, the United Nations UNCITRAL Convention the asset-backed Bills of Exchange issued by Creditnet Bank Internationale have been determined as valuable consideration equivalent to cash funds, as legislated by the preceding organizations.
