Pension Trustees Expand Scope Of £5.9M Resort Suit

Law360, London (April 5, 2019, 3:00 PM BST) -- A pension administrator has widened its £5.9 million ($7.8 million) lawsuit against a trust manager for investing in a failed Caribbean resort, telling a London court that it had a duty of care not to advanced funds to a financially stretched developer.

Hartley Pensions amended its High Court lawsuit against Estera Corporate Trustees (Guernsey) Ltd. last week, tacking on claims the trust manager breached its duty of care by loaning funds held in trust belonging to the pension.

The Bristol-based pension, which offers self-invested schemes, individual savings accounts and other services for workers' nest eggs, has already argued Estera was negligent...

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