Investment Firm Settles Lawsuit Over £25M 'Sham' Loan

By Silvia Martelli (November 16, 2021, 7:04 PM GMT) -- An asset management firm has settled a £25 million ($33.6 million) lawsuit it brought against a group of investment companies seeking collection of a loan the investment companies called a sham.

In an order dated Nov. 10, which has now been made public, Judge Jonathan Klein signed off a deal at the High Court resolving a case brought by Formal Holdings Ltd., a firm linked to the scandal-plagued retail giant Steinhoff Group, over an allegedly unpaid £25 million loan.

The two sides settled on Oct. 22, according to the Tomlin order, which allows the companies to return to court to enforce...

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