Your challenges
Whether you are a multi-national practice or a sole practitioner, we can help you solve the claims against you. We have dealt with allegations of fraud (and failure to spot it), allegedly negligent tax advice and all kinds of general accountancy issues. Where complex tax structures are involved we often draw on the firm’s dedicated tax team, which can often help mitigate potential tax liabilities reducing claim values. Similarly, we are able to seek assistance from our corporate or insolvency teams.
Achieving your ambitions
Recent examples of our cases include:
- Negotiating the settlement of a multimillion-pound claim against the auditors of the UK companies in an international group, which collapsed in 2002 amid allegations of fraud
- Resolving a circa £1 million claim by a liquidator arising from the break up and sale of a group of companies. It was alleged that the accountants provided poor advice regarding the financial structure of the sale and also failed to calculate the assets/ debts properly
- Advising accountants when complaints are made to the Institute of Chartered Accountants of England and Wales (ICAEW) and defending disciplinary proceedings
The strength you need
With a spread of lawyers across London, Birmingham, Norwich, Manchester and Leeds, we act for around forty Lloyd’s and London market insurers, as well as their insureds.
Recent reported cases involving accountants and auditors include:
- Successfully defending a circa £1 million claim for allegedly negligent advice to establish an offshore trust and company structure. Despite two mediations, due to the claimants’ unrealistic expectations, it was not possible to settle the claim. At trial the claimants were awarded only £12,000, which was significantly less than was offered prior to the trial, and was ordered to pay the defendant accountants’ costs (Dhillon & Anor v Siddiqui & Ors (2008))
- Acting for well known accountants who were the respondent to an appeal to the House of Lords in relation to a $19 million coverage dispute under a composite insurance policy. The loss arose out of the multibillion-pound collapse of the Parmalat multinational food group (The Brit Syndicates Ltd & Ors v Italaudit SpA & Ors (2008)