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Vaculug saga takes new twist

The Vaculug saga took a new twist this week when a group of former shareholders and directors lodged a legal claim against new owner Grantham Capital.

The group denies that the financial accounts were manipulated ahead of its sale to Grantham Capital and have now launched their own legal action against the new owner.

Grantham Capital Ltd, which bought Vaculug Traction Tyres 18 months ago, filed a £7.2 million fraud action against Vaculug’s former owners back in January