Between 2005 and 2007, the Claimants (most of whom are former professional footballers) invested in tax-leveraged film schemes promoted by the “Scion” corporate entities, on the advice of Formation Asset Management Limited. At that time, Formation was the appointed representative of Carpenter Rees Limited. The schemes resulted in very serious losses for the Claimants who have been financially disadvantaged as a result of the advice. They bring claims in negligence against Carpenter Rees. Partner Jonathan Tickner who represented the investors said , “the decision of Mr Justice Nugee is welcomed as the court held in favour of the claimants on all issues. The claimants now welcome the opportunity to advance the claims to trial to vindicate their interests and seek financial redress”. Read more