Buy-out hope offered to investors in £120m failed fund

The Axiom Legal Financing fund - an unregulated collective investment scheme (UCIS) that backed the funding of no-win, no-fee cases - was launched in 2009 promising returns of 11% a year, but was suspended three years later, unable to meet significant redemption requests from investors after a series of allegations emerged about the management of the fund. It is currently in receivership and under investigation by the Serious Fraud Office (SFO), with investors fearing their money was gone for good. But a lifeline has come from an unlikely source - one of their fellow investors. Robert...