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June 18, 1990


By CBR Staff Writer

A UK court has ordered James Guerin to pay the two defrauded Ferranti subsidiaries $189m after his defence was struck out for failure to comply with a court order to supply ISC Technologies Ltd and ISC London Plc with information as to what happened to the money: he must also pay damages for fraudulent misrepresentation and costs, account for any profits made with the funds paid out by the companies on fictitious contracts and tell them the identity of who else was involved in the scheme; the companies claim that while he was executive chairman of ISC Technologies Ltd, Guerin caused them to enter into purported contracts with Panamanian firms.

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