A unit of A-CAP has filed a complaint in the Southern District of New York against Leadenhall Capital Partners, accusing the latter of fraud in dealings with 777 Partners.
Both A-CAP and Leadenhall have been creditors to 777, which once tried to buy the Premier League’s Everton Football Club. In the complaint, A-CAP argues that Leadenhall was aware of problems with collateral and was effectively “in” on the fraudulent activity. A-CAP cites text messages where Leadenhall personnel “made jokes about double pledging” assets.
Leadenhall itself sued 777 and A-CAP in 2024, alleging fraud, breach of contract, and improper pledging of collateral.
The complaint is the latest development in the saga around London-based Leadenhall, which positions itself as a specialist in insurance-linked investments, spanning catastrophe bonds, collateralized reinsurance, life and health-linked risk transfer, and insurance-adjacent private credit. Leadenhall has faced troubles with a string of other deals, including Friday Health Plans, Health IQ, and Reverse Mortgage Investment Trust.
Leadenhall didn’t immediately respond to a request for comment from CorpGov.
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The post Leadenhall Capital Sued by A-CAP for Fraud in 777 Dealings appeared first on CorpGov.
