OffshoreAlert have announced on their website that attorney for Timothy Schools, David McIntosh, QC, is “…..suing OffshoreAlert for defamation”.

A letter has been sent to the Editor of OffshoreAlert from McIntosh, on behalf of Timothy Schools regarding “untrue and defamatory” allegations against his client by OffshoreAlert.

In a letter to Investors from Cayman Islands-domiciled Axiom Legal Financing Fund they have announced they have retained KPMG to investigate red flags concerning the Fund that were uncovered by OffshoreAlert

Investors were informed of the development in a letter on Monday October 15^th from the Fund’s directors, Ronal Guilfoyle and Graham Hampson.

In a story iNews Cayman ran on November 6^thwe reported that the Axiom Legal Financing Fund – a specialist Cayman-domiciled fund run by Tangerine Investment Management – has suspended redemptions and announced the

resignation of Tangerine’s CEO and founder Tim Schools.

The suspension was declared on 26 October in the face of significant redemption requests from investors, which followed the publication of a series of allegations about Schools and the way the fund has been managed by OffshoreAlert, a Miami-based news website.

For the whole article go to http://www.ieyenews.com/2012/11/suspension-of-axiom-legal-financing-2-stories-and-a-comment/