Florida Court Temporarily Blocks Cap10 Partners LLP’s Attempt to Takeover UK Addiction Treatment Company Following Fraud and Conspiracy Lawsuit
Ft. Lauderdale, FL (January 19, 2024) – A Florida court has issued a temporary injunction against Cap10 Partners LLP’s attempt to acquire a UK addiction treatment company, following a lawsuit filed against them for fraud and conspiracy.
Cap10 Partners and its partners are facing potential permanent injunction and $132,000,000 in damages as a result of the case.
According to the complaint, Cap10 Partners has been attempting to gain ownership of UKAT (UK Addiction Treatment) by hindering the company’s efforts to refinance its debt with a third-party. This tactic was reportedly aimed at allowing Cap10 to purchase UKAT’s assets at a significantly reduced price below their actual value.
The complaint also alleges that Cap10 Partners has engaged in overt acts to further their agreement to defraud UKAT. This includes sharing confidential information gained during prior negotiations with third parties in an effort to hinder UKAT’s debt refinancing efforts and lower the company’s market value and that of its assets.
In response to these allegations, the Florida Court has temporarily prohibited Cap10 Partners from purchasing any stock or assets of UKAT.
“We are thankful for the Court’s intervention to protect the interests of the UKAT Trust, which is the majority owner of UKAT’s assets,” said Robert “Bo” Gaddy, the beneficiary of the UKAT Trust. “This fraudulent behavior by Cap10 has been ongoing for over a year, and it is time for these bad actors to be held accountable,” added Gaddy.
“We intend to pursue further legal action against anyone who collaborates with Cap10 in perpetuating this fraud and conspiracy, including filing claims against Cap10’s partners and investors,” concluded Gaddy.
Press release distributed by https://pressat.co.uk/
