Drink Maker Sues Chinese Bank For 'Fraudulent' £20M Deal
Law360, London (October 16, 2020, 4:54 PM BST) -- A producer of health drinks has sued the Shanghai Commercial & Savings Bank after a business development manager at the lender allegedly arranged a fraudulent £20 million ($26 million) investment that cost the company a sponsorship deal with tennis star Andy Murray.
Vegesentials Ltd., which developed a chicory root drink known as FibreWater, is looking to claim damages in the High Court for deceit from the Taiwan-based bank.
The drinks producer said in a Aug. 28 filing, which was recently made public, that a former business development manager at the bank fraudulently arranged a £20 million investment in August 2017 in the company...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!