Denmark's £1.5B Cum-Ex Tax Fraud Suit Blocked In UK

Law360, London (April 27, 2021, 10:56 AM BST) -- A London judge has dismissed Denmark's £1.5 billion ($2.1 billion) dividend tax fraud case against British hedge fund trader Sanjay Shah and others, ruling on Tuesday that the claims are barred because foreign countries are not allowed to enforce their laws in English courts.

The High Court has said that Denmark's £1.5 billion ($2.1 billion) claim that the country was cheated out of taxes falls outside the jurisdiction of the English courts. (iStock) The dividend tax fraud claim falls outside the jurisdiction of England's High Court, Judge Andrew Baker said. Denmark's tax department had argued that it was cheated out of reimbursed...

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