We will be closing from midday on Tuesday 24 December 2024 and will reopen as normal Thursday 2 January 2025. Wishing you all the very best for the festive season and a happy and prosperous 2025!
We helped joint liquidators in a high value claim against the directors of a multinational investment company and connected entities.
The FCA-regulated company provided letters of credit/guarantee to companies around the world. They are now facing various legal claims for payment under these. The company lost one such claim in the High Court, resulting in a liability of $3m, so we helped our clients investigate potential claims for breach of duty, for failing to hold sufficient reserves to pay under the letters of credit/guarantee, and payments made to connected entities after receipt of draft judgment.
We sent initial letters before action to four respondents, and the matter settled on confidential terms.