FSCS, Estera Mull Settlement Over Caribbean Resort
Law360, London (July 26, 2019, 2:41 PM BST) -- A government-backed financial lifeboat could be close to reclaiming some of the compensation it paid investors who lost money in a failed Caribbean resort project after striking a tentative settlement with a Guernsey-based trustee.
London's High Court paused six separate lawsuits the Financial Services Compensation Scheme Ltd. had launched against Estera Corporate Trustees (Guernsey) Ltd. looking to claw back at least £1 million ($1.24 million) the deposit insurance scheme paid out to investors who backed a development on the island of St. Lucia.
Master Matthew Marsh stayed the claims until Aug. 1 to give the sides time to hammer out a settlement contract, according to...
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