The main distributor of the suspended Axiom Legal Financing fund is urging investors to sack the fund's directors with immediate effect.
Axiom, an unregulated collective investment scheme (UCIS) which invests in the funding of no-win, no-fee legal cases, was suspended in October due to a significant number of redemption requests amid a series of allegations about mis-management at the fund, which fund manager Tangerine Investment Management deny. Taylor Moor has written to investors saying "it is time for investors to take control of the situation" at the troubled fund, and to replace the current directors with new, impartial individuals. An emergency general meeting (EGM) to discuss the future of Axiom Legal Financing...
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