Let battle commence: Home Reit legal actions launched

Home Reit, whose shares were suspended in January last year, has issued letters of claim against former fund manager Alvarium as it rebuts legal challenge from its shareholders.

Legal proceedings have begun between Home Reit (HOME ), its former fund manager and some of its investors.

The trust – whose shares have been suspended for 16 months over an over-valuation scandal – said this morning it had issued a comprehensive response to a pre-action letter of claim received from legal firm Harcus Parker on behalf of some shareholders. 

The letter of claim alleges that Home Reit misled and lied to investors about the true condition of the properties it bought to provide accommodation for the homeless.  

In a statement, Home Reit said: ‘The company intends vigorously to defend itself in respect of the threatened litigation and has denied the allegations made against it.’

Meanwhile, Home Reit itself has issued pre-action letters of claim to Alvarium Fund Managers (UK) Limited and AlTi Re Limited, its former investment adviser’s appointed representative, over their alleged mismanagement of the trust.

Home Reit intends to issue further pre-action correspondence in due course but said it could not comment further.

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