Firm Directors Fraudulently Ignored Duties, High Court Told

Law360, London (April 8, 2021, 6:41 PM BST) -- An insolvency litigation financing company suing three directors of a liquidated investment advisory firm it claims fraudulently breached their duties has blasted the trio's assertions that they didn't believe the arrangements to use disallowed tax avoidance schemes would be challenged.

In a Tuesday filing to the High Court, Manolete Partners PLC responded to the defenses submitted by the three former directors and shareholders of Flemmings Financial Services Ltd., who maintained that they spoke to tax advisers before putting millions into the two compensation programs and were told that the company would not face any liability for employee income tax or national...

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