Judge: Sale of shares ‘vastly under-valued’
Mr Justice Brian McGovern said there now appears to be “a significant issue” that the sale of shares in two Treasury-linked Chinese companies to a Jersey-registered company controlled by Treasury co-founder Richard Barrett was “at a significant under-value”.
The shares in those companies were bought at around €2.21m, payable between August 2012 and August 2014, while there was a suggestion from investment experts Goldman Sachs that they were worth around €31m, the judge said.
