Arch's Farrell attacks 'highly misleading' claimants in £150m High Court battle

Arch Financial Products' chief executive Robin Farrell has accused the funds' new manager of giving misleading statements in court.

Farrell attacked Spearpoint chief executive John Davey's witness statement, heard as part of SPL Private finance's £150m lawsuit against Arch, at the High Court on Thursday, saying it was "highly misleading in key points". He dismissed Davey's argument that Lonscale was a nil value, loss-making investment, saying the direct comparison with other investments in the bonds and cash space that were performing better, was an "extraordinary suggestion". He also hinted at conflicts of interest, alleging Davey would have seen a performance fee incentive in writing down the business. SPL, t...