ABC Corporate Bonds Update - November 2017

We understand that you may be frustrated with the limited amount of information that has been available in relation to the status of your investment in ABC Bonds. As part of our new information service, Best Access, Best Distribution is committed to sourcing as much information as we can about this to try and keep investors fully up to date. In particular, information about the ongoing legal action initiated by Best Asset Management in Dubai will be exclusively available to Best Distribution and published via the Best Access website going forward.

We have been informed that the court case in the UAE against the individual behind the ABC Corporate Bond structures is progressing well and that the initial round of interviews and investigations are now complete.

As part of the process of gathering evidence, financial institutions in Dubai have been required by the court to deliver banking records to show money transactions and to confirm which individual(s) instructed various transactions. We believe the willingness of the court to demand delivery of bank records is an indication that the court believes the case has strong grounds. It also shows that the court is willing to time and resources in pursuing it, which we think is another encouraging sign.

We are informed that, now financial records have been identified to use as evidence in support of the case, matters should accelerate. However, there is still a process to go through and the speed of this will be determined by the Dubai court. 

The legal processes in Dubai are inherently protracted and we understand that this will cause significant frustration for interested parties, but please rest assured that we will be working to keep you fully up to date with any information that is available.

*Please note this is a re-post, it was originally posted on 22nd November 2017*