Former Tire Execs Say They're Owed Cash In £7M Fraud Suit
Law360, London (May 14, 2020, 8:38 PM BST) -- Former shareholders of a U.K. tire company have denied that financial accounts were manipulated ahead of its sale to Grantham Capital, launching their own legal action to reclaim missing purchase payments.
Lawyers for the 37 individuals named in the £7.2 million ($9.3 million) High Court fraud suit filed a Part 20 claim on May 1 stating that businessman Harjeev Kandhari owes them at least £817,000.
Kandhari is the ultimate beneficial owner and controller of Grantham Capital, the court documents say, and approached directors John Langham, Alison Collins, Timothy Hercock and John Parsons to purchase Vaculug Traction Tyres Ltd. in 2018, offering...
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