Denmark Hit With £46M Legal Bill In Failed UK Cum-Ex Suit

Law360, London (June 9, 2021, 1:38 PM BST) -- A judge has ordered Denmark's tax authority to pay £46.4 million ($65.8 million) in legal costs racked up by the defendants in the country's failed attempt to recover the proceeds of an alleged £1.5 billion fraud through England's High Court.

Denmark's tax authority expects to spend 635 million Danish kroner ($104 million) in 2021 pursing civil litigation over the case, according to a nationalk ministry of finance document. (iStock) The agency, known as Skat, had been given until Monday to pay part of the total £72 million owed to more than 100 financial institutions and individuals that it sued over an...

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