Cap10 Partners LLP has found itself facing legal action after a Florida court temporarily blocked their attempt to acquire a UK addiction treatment company. The case has now moved to Federal Court in Florida, where Cap10 and its partners are facing a permanent injunction and up to $132,000,000 in damages.
According to the complaint, Cap10 has been engaging in unlawful practices in their pursuit of acquiring ownership of UKAT. They have allegedly been sabotaging UKAT’s efforts to refinance their debt with a third party in order to purchase their assets at a discounted price. The complaint also states that Cap10 has been sharing confidential information about UKAT with third parties in an attempt to manipulate the market value of the company and its assets.
In response to these allegations, the Florida Court has temporarily barred Cap10 from purchasing any of UKAT’s stock or assets. This move has been praised by Robert “Bo” Gaddy, the beneficiary of the UKAT Trust, who believes that the Court’s intervention is necessary to protect the interests of the UKAT Trust.
Gaddy also states that this fraudulent behavior by Cap10 has been ongoing for over a year and that it’s time for them to be held accountable for their actions. He further adds that they plan to take further legal action against anyone who is involved with Cap10’s fraudulent activities, including their partners and investors.
The case against Cap10 serves as a reminder that unethical business practices will not be tolerated and that those who engage in them will be held accountable. The outcome of this case will have a significant impact on the future of UKAT and its assets, as well as the reputation of Cap10 and its partners. The Federal Court in Florida will now have to carefully consider the evidence presented and make a decision that is in the best interest of all parties involved.
Derick is an experienced reporter having held multiple senior roles for large publishers across Europe. Specialist subjects include small business and financial emerging markets.