Arch Cru investors: Court case diverting attention from 'real culprit'

Carmen Reichman
clock

Investors in the failed Arch Cru funds have called for SPL Private Finance to drop its lawsuit against Arch Financial Products and its chief executive Robin Farrell, saying it would "only damage what remains of their investments if unsuccessful".

The group, which is filing its own case against authorised corporate director Capita Financial Managers, after the High Court granted a group litigation order last month, said the SPL claim diverted attention from "the true culprit", Capita. SPL is currently managing the Guernsey cells that make up the Arch Cru funds. It is suing former fund manager Arch for £150m for gross negligence in its role as investment manager of the failed funds between 2007 and 2008. The case, which also brought claims against Arch FP's chief executive Robin Farrell alleging that he dishonestly assisted Arch...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

Advisers expecting more of asset managers since Consumer Duty

Advisers expecting more of asset managers since Consumer Duty

‘We actually need to understand one another better’

Hope Coumbe
clock 28 March 2024 • 1 min read
Fears tech limitations could stall MPS on its upward trajectory

Fears tech limitations could stall MPS on its upward trajectory

‘There have been a few changes and challenges around growth in general’

Hope Coumbe
clock 27 March 2024 • 1 min read
Partner Insight: Beyond 60/40

Partner Insight: Beyond 60/40

Invesco
clock 27 March 2024 • 5 min read