Versailles Investors Launch Court Action in British Virgin Islands


Two members of the group of wealthy individuals that helped fund the trade finance group Versailles (which went into receivership in January), have launched a court action in an attempt to recover their money and to discover the reasons for the group’s failure. Accountants found that the disgraced company had logged a series of false transactions estimated to amount to Ј69m. The claim has been made in a court in the British Virgin Islands. Versailles’ chief executive, Carl Cushnie, has tried and failed to have the action thrown out of court.



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