Stirling Mortimer, the offshore property fund caught up in a dispute over €9.8m of cash which went missing from one of its cell funds, has agreed an out of court settlement to end an upcoming legal battle.
The board of the Stirling Mortimer Global Property Fund said in a statement released to the Channel Islands Stock Exchange it had agreed a deal with law firm ELS International Lawyers and Joe Ezaz, a former partner at the law firm. The deal means a scheduled court hearing, listed to start today, will now be avoided. The board of the fund said in a statement: "The precise terms of the settlement remain private and confidential to the parties under law. The settlement agreement was reached without any admission of liability or wrongdoing by any of the parties. "What the Board can say...
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