Gibraltar Trustees Escape Investors' Pension Losses Case
By Christopher Crosby (October 13, 2021, 4:48 PM BST) -- Dozens of investors lost their chance to sue a pension scheme trustee for recommending "inappropriate" investments after an English judge ruled on Wednesday that the lawsuit should have been brought in Gibraltar.
More than 60 investors who transferred their employer pensions into investment schemes operated by Castle Trust & Management Services Ltd. should have sued the trustee overseas and not in the English courts, High Court Judge Jonathan Russen said.
The English courts have no jurisdiction over the claimants' negligence lawsuit accusing the trustee of mismanaging their investment because the deed and rules investors signed called for disputes to be settled...
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