Kuwaiti investors plan to carry on their legal battle in the Cayman Islands Grand Court over allegations of fraud and corruption involving fund managers at Wellspring Capital Group and KGL Investment Company Asia.
October 30, 2024 at 05:51 AM
2 minute read
Correspondent, Dubai
Ogier (Cayman) and Baker & McKenzie London have secured a win for Kuwait and Gulf investors in a long-running clash between Big Law and offshore law firms in a $100 million Kuwait-Cayman dispute involving two fund managers—but the case isn’t over yet.
The investors claim that the 2017 sale of a major port asset in the Philippines led to the embezzlement of at least $100 million and they are seeking compensation from the fund’s general partner and its associates.
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Beach in Grand Cayman, Cayman Islands; Courtesy Photo
