Lanner Trust - Update

Those familiar with the Lanner Fund will know that returns from the assets are in part reliant on the process of a court action in the UAE. The Courts in Dubai announced that in the Covid-19 environment the Courts in Dubai (except in some very specific cases) were suspending action from the 22nd March until the 16th April. Since then, while some hearings have been heard by video link, others are still delayed. We are waiting advice from the legal advisors to the case in Dubai on the scheduling of the next hearing.

In the meantime, action to recover lost revenue based on guarantees offered by the Trustees is being considered by the representatives of the car park owners.