We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Investors Can Tap Clydesdale Bank For Property Fraud Scam

Law360, London (March 6, 2019, 4:43 PM GMT) -- Defrauded investors can recoup the money they sunk into a sham property scheme from Clydesdale Bank, a London appeals court said on Wednesday as it ruled that the lender had breached contractual obligations by dispersing the money without permission.

The Court of Appeal said the bank had violated a letter of instruction protecting money belonging to the investors by releasing the funds, which had been earmarked for investment in a resort property development on the Atlantic island of Cape Verde, to Arck LLP, a U.K. financial management company whose partners were later charged with fraud. 

The ruling overturns a finding by a lower court...

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!

TRY LAW360 FREE FOR SEVEN DAYS

map

Kirkland & Ellis LLP has redefined what it means to be the biggest of BigLaw — weighing in at 2,116 attorneys by year end 2018 and becoming the first firm since Law360 began tracking law firm head counts to top 2,000 U.S.-based attorneys.

Related

Sections

Law Firms

Government Agencies