The US law firm has sued Vantis for £431,000 in unpaid fees relating to major
work it undertook for the accountancy firm in recent years, including advisory
services for its 2005 acquisition of Numerica and the subsequent sale of a
number of Numerica offices.
‘We’re sure it will be sorted,’ said one source close to Vantis, mentioning
the likelihood of a settlement of the matter rather than litigation. The law
firm has received £75,000 in fees relating to its work, according to reports.
Vantis confirmed discussions were ongoing. ‘The parties are in dialogue to
agree this matter,’ said a spokesman.
The £16m Numerica purchase in May 2005 saw Vantis agree to sell the acquired
firm’s offices in Bristol, Southampton and Manchester to BDO Stoy Hayward for
At the time Vantis chief executive Paul Jackson said the deal would enable his
firm to win larger clients.
Vantis has driven growth in recent years through an aggressive series of
Mark McMullen joins the private client services team from Smith & Williamson
Merger between Clear & Lane Chartered Accountants and Magma Chartered Accountants was finalised on 3 February
BDO has taken its new partner intake to 23 during the first half of its financial year, including the appointment of five partners in five weeks
The firm reports 7.6% global fee income growth for the year ending 31 December 2016