Andrew Barnes's Bath Street Capital, which owns Perpetual Guardian, is taking legal action over the failed sale of the business to an Australian firm earlier this year.
Originally, the plan was to list Completus (which owns Perpetual Guardian), however Barnes negotiated a trade sale with Australian firm Sargon Capital earlier this year.
That sale fell over, for reasons which remain unclear. However, it appears Sargon were unable to settle the transaction.
At the time Complectus said Sargon "did not meet its obligations under the sale and purchase agreement."
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