Skip to content
Subscriber Only

Hedge-Fund Trader Wins Dismissal of $2 Billion Tax Case

  • London judge says Danish case can’t be brought in the U.K.
  • Ruling is a setback for Denmark’s attempt to recoup funds
Sanjay Shah.

Sanjay Shah.

Photographer: Christopher Pike/Bloomberg
Updated on

Hedge Fund trader Sanjay Shah won his bid to throw out a 1.5 billion-pound ($2 billion) lawsuit filed by Danish tax officials over Cum-Ex trades, in a blow to the nation’s efforts to claw back vast sums officials claim were lifted from state coffers.

London judge Andrew Baker said in a ruling Tuesday that the U.K. wasn’t the proper place to bring a foreign tax claim. The Danish agency said it would appeal.