UK Supreme Court Revives 2022 Danish Cum-Ex Fraud Suit Against ED&F Man
Updated
Updated · Bloomberg · Jul 1
UK Supreme Court Revives 2022 Danish Cum-Ex Fraud Suit Against ED&F Man
1 articles · Updated · Bloomberg · Jul 1
Summary
The UK Supreme Court allowed Denmark’s tax authority to pursue its lawsuit against ED&F Man Capital Markets Ltd., pulling the commodities broker back into the Cum-Ex litigation.
The ruling revives a 2022 claim by Skatteforvaltningen alleging the firm fraudulently induced the Danish agency to pay withholding-tax refunds.
ED&F Man Capital Markets, now called MCML Ltd., had been fighting the case as part of a long-running scandal over dividend-tax refund trades.
The decision keeps the Danish authority’s effort alive in UK courts, extending one strand of the broader Cum-Ex crackdown.