Head of Cayman fund group Tim Schools accused of professional misconduct in UK
The head of a Cayman Islands fund group that claims to manage $160 million and boasts of “consistent” 12% net annual returns for investors is being prosecuted for alleged professional misconduct in the United Kingdom. British attorney Tim Schools faces 11 allegations, including that he “failed to act with integrity” and “failed to act in the best interests of his clients”.
Axiom LFF is a Segregated Portfolio of JP SPC 1, a segregated portfolio company, incorporated in the Cayman Islands with limited liability.
Cayman-based Tangerine Investment Management launched the Axiom Legal Financing Fund in September 2009. An open-ended investment fund, Axiom offers investors the opportunity to invest in a specialist strategy, uncorrelated to the broader markets, involving the provision of short-term loans to UK law firms.
Tim Schools qualified as a solicitor in the UK in 1998. He founded his own law firm when the Access to Justice Bill was passed in 2000, allowing lawyers to act on a no-win, no-fee basis, and at the same time created a claims management company which employed more than four hundred staff, dealing with over three thousand cases per month.
Schools subsequently sold his law firm in 2004 and has since developed further opportunities in the consumer sector to give the public greater access to justice and, in a wider context, to develop funding models to support the commercial sector. Schools is said to have vast experience in advanced funding and insurance models for law firms.
