High court approves Arch Cru investors' £16m claim against Capita

The claims - which lawyers Harcus Sinclair who are acting for the investors said could cost Capita £16m or more if successful - centre on the allegation that Capita failed in its role as authorised corporate director of the Arch Cru fund range. The Arch Cru fund range was suspended in March 2009 by the then regulator the Financial Services Authority (FSA) following a warning that it could no longer trade due to pricing and liquidity issues. At that time it was worth a total of £363.6m. Since then some assets have been sold off - at a heavy discount - and the remainder of the fund rang...