PE Fund’s £16M Accounting Fraud Suit Heads North For Trial

Law360, London (May 1, 2019, 11:56 PM BST) -- A New York investment fund suing to recover £16.3 million after allegedly discovering the executives of a U.K. engineering firm it purchased overstated the company’s health will have its case go to trial in Manchester next year, a judge in London has ordered.

High Court Judge Adrian Beltrami has said the 10-day trial will begin at the Circuit Commercial Court in the northern city of Manchester on the first available date after Oct. 5, 2020, after Pangaea Two Acquisitions Holdings VIII LLC sued four executives at AIM Engineering Ltd.

Pangaea Two claims that it lost the £11.4 million ($14.9 million) paid...

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