Tuesday 20 January 2015

UK: Supreme Court to hear appeal in collective investment scheme case

In Financial Services Authority v Asset L I Inc (t/a Asset Land Investment Inc) [2013] EWHC 178 (Ch)[2013] WLR (D) 54 the trial judge held that certain sales of land were collective investment schemes as defined by section 235 of the Financial Services and Markets Act 2000. This finding was challenged before the Court of Appeal last year but rejected (see [2014] EWCA Civ 435). Several days ago the Supreme Court announced that it would hear an appeal from the Court of Appeal's decision: see here (pdf).

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