The position of Cyan – summary
The position of Cyan – summary
As already set out above, Cyan relies upon its security documentation creating charges, demonstrating its entitlement to the economic interest in the Funds. It also points to previous payments made to it by Mr Barnett under the same security documentation. Cyan accepts that it received the sums it used to pay the loan under the terms of the agreements with the Orex Companies from third parties, but denies that those third parties have an economic interest in the Funds.
- Heading
- ICC Judge Agnello KC
- Summary of claimants asserting an economic interest in the funds
- ‘For each syndicated loan transaction, WSLL issued loan participation certificates, interest certificates and loan redemption certificates. I exhibit at pages 193 to 220 each of the loan participation
- The funds provided to Cyan for the purposes of the lending to Orex
- The involvement of the FCA in relation to HPL
- The HPL claim – Mr Kubik’s evidence
- The position of Cyan – summary
- The late submission of an email dated 5 October 2022 by Counsel for the GM Companies
- Conclusions
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