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Administrators handling the London Capital & Finance collapse have launched a £32 million lawsuit against payments provider GC Partners. The legal action alleges the company processed transactions despite having reasonable grounds to suspect fraud in one of Britain’s largest financial scandals.
Administrators for failed investment firm London Capital & Finance have filed a substantial lawsuit against payments and custody provider GC Partners, seeking approximately £32 million in damages and interest. According to court documents, the administrators claim GC Partners failed to conduct adequate due diligence while processing transactions for LCF before its collapse.
