Axiom Legal Financing Fund was placed into receivership today (12) by Justice Angus Foster, sitting at the Grand Court of the Cayman Islands.

For more on this story go to:

http://www.offshorealert.com/axiom-legal-financing-fund-receivership-ruling.aspx

This follows uncertainty since the directors voted at a Extraordinary General Meeting held in London on Dec 11 2012 to put the Fund into receivership.

Investors have faced weeks of uncertainty after the £117m Cayman-domiciled fund was suspended in mid October due to a wave of redemption requests from investors following the publication of an article in Miami-based publication Offshore Alerts.

The article made a series of allegations about the chief executive of Tangerine Investment Management – the managers of the fund – and the way the fund had been managed. Following the suspension the CEO, Timothy Schools, resigned.

iNews Cayman has been following this story closely. See here for all the other articles:

http://www.ieyenews.com/2013/02/axiom-hearing-decision-will-not-be-delivered-until-tuesday-12/

http://www.ieyenews.com/2013/02/cayman-judge-reserves-judgment-in-axiom-legal-financing-fund-receivership-case/

http://www.ieyenews.com/2013/01/axiom-battle-lines-are-formed/

http://www.ieyenews.com/2012/12/axiom-is-in-the-news-again-latest-stories/

http://www.ieyenews.com/2012/11/marchant-hits-back-against-schools-libel-complaint-in-uk-saying-uk-has-vomited-on-its-colonies/

http://www.ieyenews.com/2012/11/axiom-legal-financing-fund-the-lunacy-continues/

http://www.ieyenews.com/2012/11/axiom-fraud-leaves-offshore-providers-exposed-to-massive-claims-for-damages/

http://www.ieyenews.com/2012/11/cayman-islands-investment-manager-fired-by-axiom/

http://www.ieyenews.com/2012/11/tim-schools-suing-offshorealert-for-defamation/

http://www.ieyenews.com/2012/11/suspension-of-axiom-legal-financing-2-stories-and-a-comment/

http://www.ieyenews.com/2012/10/letter-to-offshore-alert-concerning-david-rae/

http://www.ieyenews.com/2012/10/uncovering-red-flags-in-international-finance/

http://www.ieyenews.com/2012/10/axiom-legal-financing-fund-appoints-kpmg-to-investigate-red-flags-raised-by-offshorealert/

http://www.ieyenews.com/2012/10/offshorealert-more-red-flags-regarding-fast-growing-axiom-legal-financing-fund/

http://www.ieyenews.com/2012/08/head-of-cayman-fund-group-tim-schools-accused-of-professional-misconduct-in-uk/