Broker Settles Suit Over £7M Connaught Fund Exposure
Law360, London (October 25, 2019, 11:20 PM BST) -- Oxford Insurance Brokers Ltd. has reached a confidential settlement with a London-based financial adviser claiming the broker negligently failed to weigh the risks involved in holding £7.35 million for clients in an unregulated investment scheme that later collapsed.
According to a High Court order issued Tuesday, Strabens Hall Ltd. and Oxford, a broker for Lloyd's of London insurance products, resolved their legal differences last month, so further proceedings in the case are stayed unless one side or the other requires the court's assistance to enforce the settlement agreement.
Strabens first filed its suit against Oxford in August over the Connaught Income...
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