A Gibraltar-based law firm and Australian financial advice firm have been added to the list of defendants in the £52m GP Noble civil lawsuit.
The second stage of the civil trial - brought to recover the money allegedly fraudulently removed from nine UK pension schemes - is set to be held in October this year.
The civil litigation is running in parallel to the criminal action under the control of the Serious Fraud Office. Tony Morris is currently on trial at Southwark Crown Court, facing charges of fraud. He denies all charges, as does his co-defendant Peter Malmstrom.
The civil trial is being brought by Independent Trustee Services (ITS), in its capacity as trustee of the affected schemes. Law firm Taylor Wessing is running the case.
Commercial disputes group partner David de Ferrars told IFAonline the litigation had so far recovered £36m of the £52m.
The original civil judgement, in July 2010, got back £32m. Since then an additional £4m has been brought back to the UK from a variety of investment vehicles around the world.
de Ferrars said Gibraltar-based law firm Hassans and Sydney-based financial advisers Pitt Capital Partners had been added to the list of defendants, which was originally about 25 separate companies and individuals.
He explained claims of negligence were being brought against Hassans. The lawyer said the intitial transfer of funds from pension schemes to Hassan's client account and subsequent transfers to investment vehicles breached the law firm's duty of care owed to the pension schemes.
He added Hassans had a duty of care to the pensioners as the transfers were made before the investment company concerned had been incorporated, meaning the schemes themselves were its client.
Pitt Capital Partners faces allegations of common law conspiracy and dishonest assistance for its role in the distribution of funds.
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