Liquidators Told To Clear VC Fund Probe With Shareholders

By Christopher Crosby (November 19, 2021, 2:48 PM GMT) -- Liquidators investigating the affairs of three closed venture capital funds must consult shareholders before continuing after drawing flak from a London judge on Friday for ignoring their views — and a court order — for more than a year.

Insolvency Court Judge Catherine Burton told liquidators at Menzies LLP to ask shareholders of three venture capital funds whether they want to probe the funds' former accountants for a potential lawsuit.

The Menzies' liquidators were told to convene a members meeting by the Court of Appeal last year to decide whether they wanted to restore the dormant funds to the register....

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