Denmark's tax authority has lost a £1.4bn fraud case at the High Court in London in one of the highest value civil cases ever heard in the UK.
Skatteforvaltningen, known as Skat, argued huge sums of cash had been falsely claimed in tax rebates - as part of so-called "cum-ex schemes".
The main named defendant in the case was defunct hedgefund Solo Capital Partners, run by trader Sanjay Shah, who was jailed in a criminal trial in Denmark last year.
Ruling on the case, Mr Justice Andrew Baker said the Danish tax authority had not been misled into making the payments.
The case was deciding on whether Skat was deceived into paying the tax refunds, as it had claimed.
