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Leadenhall sues 777 Partners & related persons/entities over collateral fraud

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Leadenhall sues 777 Partners & related persons/entities over collateral fraud


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Leadenhall Capital Partners LLP is a specialist investment manager in London that specializes in insurance-linked investments (ILS). It has accused 777 Partners of fraud. They claim the collateral they pledged as part of a lending contract was either duplicated or not present.

Leadenhall Capital Partners LLP as well as one of the managers for life insurance linked investment strategies, Leadenhall Life Insurance Linked Investments Fund PLC are named in the lawsuit. Between them, they claim that 777 Partners and their entities owe 350 million dollars on collateralised notes.

Leadenhall seeks damages for the non-posting of collateral in accordance with the terms and conditions of a deal it entered into with its partner 777 Partners.

Documents filed in court show that Leadenhall Capital Partners signed a secured credit agreement with a grouping of limited liability company owned by 777 Partners, and managed by Josh Wander and Steven Pasko.

The agreement stipulates that the borrower (777…



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