Yorkshire Bank has said it will respond to investor claims it was negligent in relation to failed investment Arck by the end of the month - the latest date possible under legal rules.
Around 400 investors are bringing claims valued at about £23m against the bank for what they allege was its professional negligence for failing in its duty to protect client monies which it held on account for investors in Arck, a £63m unregulated collective investment scheme which entered liquidation last March. The investors - represented by law firm Regulatory Legal - have been fighting the case against Yorkshire Bank since January. They hold the bank responsible for their losses and are demanding it pays them back. The bank's commitment to deal with the matter by the end of the mo...
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