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Lawyers are looming in fund fight

Matrix says it has instructed solicitors to sue the 30m Quantock UK growth fund for 850,000 over the way it was transferred to Marlborough last month.

The case centres on Marlborough raising its fund of funds’ holding in Bob Brown’s fund to 4m, forcing an EGM sand voting to transfer the authorised corporate directorship from Matrix, with support from Brown who said he was dissatisfied with Matrix’s marketing.

Marlborough says it is considering counter-claiming over alleged comments made by Matrix regarding the transfer.

Matrix has written to Quantock shareholders advising them it will be suing for loss of earnings on the alleged grounds that the fund is in breach of its former contract with Matrix as authorised corporate director.

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