How The £1 Billion, Seven-Year Carlyle Case Puts Guernsey On The Map For Funds Litigation

A judgment on what is thought to be the largest civil case in Guernsey's history handed down on 4 September by the island's Royal Court cleared Carlyle Capital Corporation, a Guernsey investment fund that went into insolvency in the wake of the financial crash in 2008, of liability over its collapse.

The Carlyle Group, Carlyle Investment Management and TCGH, successfully defended claims including that its management of a Guernsey fund was in breach of duties alleged to be owed to it that led to total investment losses in the 2008 financial crisis.

Together with The Carlyle Group companies, the Royal Court's judgment also dismissed all claims considered at trial against each of its seven executive and non-executive directors.