Ex-CEO Fights Financier's £12M Suit Over Risky Loan Loss

Law360, London (June 22, 2020, 8:28 PM BST) -- The founder of an alternative financier has hit back at a suit brought by his former company accusing him of dishonesty and seeking over £12 million in compensation, arguing it is vague and has no real prospect of success.

Paul Aitken, who founded Borro Group in 2008 and was its chief executive officer until leaving in June 2017, said the company's claims in its suit over alleged losses are "without foundation and are denied in their entirety."

"Bare assertions are made as to Mr. Aitken's alleged knowledge without the basis for such alleged knowledge being particularised," his lawyers said in a defense filed...

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