Rahman Ravelli
Rahman Ravelli Solicitors Logo
Rapid Response Team: 0800 559 3500
Switchboard: +44 (0)203 947 1539

About Us Expertise PEOPLE International Legal Articles News Events Contact Us toggle button for phone toggle button for search
Rapid Response Team: 0800 559 3500
Switchboard: +44 (0)203 947 1539
search
Rapid Response Team: 0800 559 3500
Switchboard: +44 (0)203 947 1539
search

Niall Hearty explains why the Cum-Ex storm is far from over

Author: Niall Hearty  15 April 2024

Posted in : Cum-Ex Media Coverage .

With British hedge fund trader Sanjay Shah on trial in Denmark in relation to Cum-Ex trading, Niall Hearty wrote about why the share-selling scandal shows little sign of ending.

Mr Shah is accused of Cum-Ex trading that Denmark says has cost it more than 12.7 billion Danish kroner ($1.8 billion). 

In an article published by Law360, Niall argues that although the controversial share-selling practice ended years ago, its effects are still being felt.

He explains that authorities in many countries were slow to realise how Cum-Ex exploited a loophole in dividend payments so that more than one party could claim tax rebates on capital gains tax, even though that tax had only been paid once at most. But he details how those authorities are now keen to hold to account those they blame for draining their funds.

Niall outlines the case of jailed Cum-Ex trader Anthony Mark Patterson and the scale of the legal action against Sanjay Shah. He says that some people “need to be looking very closely at their past activities and preparing their future course of action’’ in case they become the subject of Cum-Ex investigations.

The full article can be read here (subscription required).

Niall Hearty C 07998

Niall Hearty

Partner

niall.hearty@rahmanravelli.co.uk
+44 (0)203 910 4565 vCard

Download Profile PDF

View Profile

Niall has a wealth of corporate crime expertise and an ability to coordinate global bribery and corruption cases. His achievements in such investigations have made him a logical choice for corporate clients.

Share this article on