Two members of the group of wealthy individuals that helped fund Versailles, the trade finance group which collapsed in January, will go to court in the British Virgin Islands on Thursday 27th July. They are hoping to recover their investments and to discover the reasons for the group’s collapse. It is understood their plan will be opposed by representatives of Versailles’ chief executive, Carl Cushnie, who will argue for an alternative proposal supported by the majority of the investor group. One of the investors, Michael Moseley has said in a letter that Mr Cushnie has “a duty and a mandate to explain” the circumstances surrounding “the Versailles debacle.”
