Farrell and Addison accused of 'distorting evidence' as Arch case wraps up

Arch Financial Products chief executive Robin Farrell and compliance director Robert Addison have today been accused of giving inconsistent evidence, lying and distorting the facts during their High Court battle.

In the final hearings of the case - brought against Arch by the Guernsey cells' current board, SPL Private Finance - the claimants' lawyer, QC Richard Coleman, accused the men of having given different versions of accounts to the court and the Financial Services Authority (FSA) to that which was found in contemporaneous evidence. He also said the pair had deliberately used obscure and vague language in their evidence, which gave them scope to manoeuvre. Arch FP is being sued for £150m for gross negligence in its role as investment manager of the failed Arch Cru funds between 2007 and ...