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Pension Trustees Hit Back In £5.9M Failed-Resort Donnybrook

Law360, London (March 13, 2019, 8:23 PM GMT) -- A pension administrator that lodged a £5.9 million ($7.8 million) suit against a trust manager for investing in a failed Caribbean resort has shot back in a London court against the management company’s claims it was contractually entitled to fund the development, maintaining the company was “at the very least” negligent.

Hartley Pensions’ High Court suit claims that Estera Corporate Trustees (Guernsey) Ltd. was so reckless and negligent that its conduct may have amounted to fraud. Estera countered in a recent filing that it was allowed to advance money to the resort’s developer under the terms of a deed of trust....

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