PwC to claim costs from Sir Elton

Link: PwC delighted with Sir Elton ruling

The firm, which this year finally concluded a court battle against Sir Elton after he claimed damages and interest of £14m, is seeking the rest of its costs plus additional money on a so-called ‘indemnity basis’, Accountancy Age has learned.

Papers have been lodged with the Queen’s Bench Division of the High Court though a date for a hearing has yet to be made public.

In April last year Sir Elton lost his High Court action in which he alleged PwC had failed to inform him that he and his companies were bearing costs – estimated at around £7m – rather than his former manager John Reid.

June this year saw a rematch when Sir Elton moved his case to the Court of Appeal where he also lost.

Total costs for the case have been estimated at around £8m. PwC was awarded costs based on a standard formula but claiming expenses on an indemnity basis means the firm is looking for much more than was given in the original award.

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