Press Release: IMC acusations

Press Release 27.03.2018

MISLEADING ACUSATIONS BY ARTON CAPITAL
in regard to the IMC and Transparency International Report
“In Whose Interest? Shadows Over The Hungarian Residency Bond Program”

Geneva, 27 March 2018

Arton Capital and its legal representatives Schillings International LLP are aggressively targeting the Investment Migration Council in order to discredit its work as well as its member base and as such, the investment migration industry at large.

In a letter addressed to the IMC as well as its entire Advisory Committee, the law firm Schillings International LLP, acting on behalf of their client Arton Capital, threatens to legally pursue reputational and monetary compensation in regard to the IMCs report “In Whose Interest? Shadows Over The Hungarian Residency Bond Program” (IMC and Transparency International, 2016).

This comes despite the fact that the IMC has never been properly served in any legal proceedings related to these claims as well as the fact that the Dubai court has factually closed the case, ordering Arton Capital to pay the related court fees. Furthermore, the letter in question contains a number of serious inaccuracies, misleading and wrong information and as such is of great concern to the IMC beyond the points related to this case. For instance, the letter is written in a manner that claims that Arton Capital has won a court case in Dubai, which is false. Moreover, none of the reports prepared by the appointed ‘independent’ experts (both paid for by Arton Capital) tasked to review media and monetary impacts were endorsed by the court, etc.

The letter is a gross demonstration of actively seeding misleading information and clearly targeted to create harm towards the IMC, its members base and as such, the industry at large. It is not only unreasonable to threaten the IMC as a not-for profit and industry standard setting body, but it is also going diametrically against the spirit of the IMC for building a better and stronger stance for the industry overall.

The IMC believes it is in the industry’s collective interest to take a clear and strong position on such mal practice, for the benefit of all industry players. In addition to taking such matters seriously, the IMC is also filling a complaint with the UK Solicitors Regulatory Authority in respect of the aggressive and nonprofessional manner in which Schillings International LLP, on behalf of Arton Capital, has approached third parties not related to the case to further cause harm.

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About the IMC

Investment Migration Council

16 rue Maunoir, 1211 Geneva 6,
Switzerland investmentmigration.org
T +41 22 533 1333

The Investment Migration Council (IMC) is the worldwide association for investor migration and citizenship-by-investment, bringing together the leading stakeholders in the field and giving the industry a voice. The IMC sets the standards on a global level and interacts with other professional associations, governments and international organisations in relation to investment migration. The IMC helps to promote high professional standards as well as to improve public understanding of the issues faced by clients, professionals and governments in this area.

For media questions or requests for interviews with an IMC representative, please contact the Media Relations Team at media@investmentmigration.org