Wealth Manager Fights Bad Advice Suit Over Film Scheme

Law360, London (October 22, 2019, 5:59 PM BST) -- A British financial adviser has fought back against a suit brought by clients alleging the company negligently advised them to put their money in a film investment scheme, saying that they were warned they might not get the promised tax benefits.

The High Court suit, brought by investor Peter Breitenbach and other claimants against Canaccord Genuity Financial Planning, is the latest in a raft of litigation challenging such tax-driven film investment schemes, which have come under government scrutiny. The claimants expect to recover more than £10 million ($13 million).

Breitenbach said he and other claimants — whose identities have not been...

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