In an interview with The Times this week, David Monks, managing director of class action recovery specialist Magenta One revealed that billions of dollars owed to institutional investors in the UK is sitting in escrow accounts in the United States awaiting collection.
Mr Monks estimated that investors such as institutions and pension funds are missing out on around $8.2 billion (or £4.7 billion) by failing to collect on settlements allocated to transatlantic class action winners.
He explained to The Times that:
"Pension funds have been sitting back, waiting for something to happen to their deficits, but they should be taking active steps to get money that's there for the taking."
.
Network Tweets
Network BlogsContent
provided by
|
Archive | Resources | Partners | Site Map | Links | Newsletter Archive | Contact | RSS Feeds | About | Syndication | Advertising & Marketing | Recruitment | Terms & Conditions | Privacy & Cookies
Copyright © 2012 - All Rights Reserved - Tax-News.com
IMPORTANT NOTICE: Tax-News.com has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments.
Write a comment