Towry Law Intl: a fall from grace

The collapse of Towry Law International (TLI) has been swift and caused palpitations for other offshore investment advisers. TLI had expanded aggressively overseas from the late 1990s and courted the press, regulators and clients with its policy of always trying to be high quality. It also pointedly said it wanted to improve the industry's reputation. But a strategic review by its UK parent, Towry Law Group, which is owned by the listed HHG, determined the future was less bright given the state of external markets and issues over previous methods of giving advice and due diligence. The...