Trust Manager Denies Fraud In £5.9M Row Over Failed Resort

Law360, London (February 6, 2019, 7:25 PM GMT) -- A Guernsey-based trust manager has denied committing fraud and owing £5.9 million to the operators of a pension scheme that invested in a failed Caribbean resort, according to documents filed with a London court.

The managers of Hatley Pensions are suing Estera Corporate Trustees (Guernsey) Ltd. at the High Court, claiming that the firm was so reckless and negligent that its conduct may have amounted to fraud. But Estera, in its defense to the pension scheme managers filed on Jan. 30, said it was allowed to advance money to the resort’s developer, Malgretoute Hotel Development Co. Ltd., under the terms of a...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!