The Guernsey Court of Appeal has upheld the first instance judgment of 2017 in the Carlyle Capital Corporation Limited (in liquidation) (CCC) litigation and has dismissed the plaintiffs' appeal, offshore law firm Collas Crill stated.

In the middle of 2008, a claim was brought by CCC – a Guernsey incorporated investment fund that invested in prime US residential mortgage backed securities – and its liquidators, against its former directors and investment manager.

Collas Crill acted for the fund's three former independent directors.

After a six-month Royal Court trial in 2016, Lieutenant Bailiff Marshall QC ...