23 Nov 2015 - RAM liquidators may act to claw back funds from former investors

Are you a former investor in Ross Asset Management Limited (in liquidation) (RAM)? Did you receive your investment back in part, or whole, before liquidation?  Have you received notice from the liquidators of likely claims to recover your withdrawals?

The liquidators have signalled that, subject to the outcome of the current three cases against former investors (one of which is currently under appeal to the Court of Appeal), the liquidators may take action against a further 200 investors to claw back some or all of their investments.

Gibson Sheat has assembled a specialist legal team including Justin Smith QC, who is lead counsel acting on the case under appeal, and barristers Andru Isac and Jack Wass of Stout Street Chambers to defend these claims by the liquidators. The benefits of joining the group include representation by a dedicated team with existing knowledge of the current litigation, efficiencies and cost savings, familiarity with the liquidators’ approach, and flexibility (there are likely to be bespoke defences for each investor, such as change of position).

You can register your interest in joining with other investors to defend possible claims by completing our contact form. Registration does not commit you to anything, but allows you to receive reports on the claw-back actions, and any proposals for the conduct of the defence of the claims.  There may well be opportunities for your normal legal and accounting advisers to remain involved.

If and when you receive a claim by the liquidators, and you instruct us to defend it using the team described above, we will form our client solicitor-relationship with you.  That will include sending you our letter of engagement and business terms.  Depending how the liquidators issue the claims, we may be able to act for more than one investor facing such a claim.

For enquiries please contact Edward Cox on 04 916 6309 or edward.cox@gibsonsheat.com