UK Case Shows Risks Of Taking Shortcuts In Fund Payments

By Adam Silver, Ricci Potts and Richard Herstell (June 8, 2023, 12:10 PM BST) -- On April 25, in Floreat Investment Management Ltd. v. Churchill, the Court of Appeal of England and Wales reversed a decision of the High Court of Justice of England and Wales[1] that found three senior former employees of an investment adviser to an investment fund liable for dishonest assistance, among other things, for diverting a sum of $1.1 million due to the fund to themselves....

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