Arch trial: Farrell disputes SPL's 'lack of truthfulness' claim

Arch Financial Products' chief executive Robin Farrell and compliance director Robert Addison have hit back at allegations they lied in court, saying these were false and unfair.

In their witness statement submitted to the High Court, they said any inconsistencies arose naturally from changes in the arrangements of financial transactions. They accused the claimants of refusing to accept the real evidence and instead focusing on a false perception of inconsistencies. Arch FP is being sued for £150m by the Guernsey cells' current board, SPL Private Finance, for gross negligence in its role as investment manager of the failed Arch cru funds between 2007 and 2008. SPL has also brought claims against CEO Farrell, alleging he dishonestly assisted Arch FP in breac...