News

Legal action against Comada - 11th November 2011

In the period 2004-5, Destra developed the MatShare software for Comada Ltd (Cayman). As a result, Destra was the first owner of the copyright subsisting in the MatShare software. Destra only granted Comada Ltd a limited licence to use the software for specific purposes. However Comada has breached this licence by developing new systems including MatInvest, Prime Fund Solutions 'PFS Horizon' and a platform for Custom House. Destra believes that all of these platforms are based on the MatShare software and are being provided via Mat Services Ltd (Bermuda).

Destra is determined to enforce its legal rights and has commenced legal proceedings against Comada in the Patents County Court of England and Wales, seeking damages and an injunction.

Destra is represented in these proceedings by Michael Hicks of Hogarth Chambers and Piers Strickland of Waterfront Solicitors LLP.

View or download the Claim Form and the Particulars of Claim.