Strategic, Lombard receiver seeks to avoid court costs in settlement talks with directors

Thu, 27 Dec 2012

By Paul McBeth Dec. 27 (BusinessDesk) - The receiver for Strategic Finance and Lombard Finance & Investments, PwC's John Fisk, is in talks to reach settlements with the directors of the two failed lenders in a bid to avoid the costs of taking legal action. The Strategic and Lombard Finance boards have each received draft statements of claim against them by their respective receiver and both boards are in negotiations to reach an out-of-court settlement, according to Fisk's latest reports for the two companies. Lombard Finance's directors,...

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