KPMG partner sues for £1m

KPMG partner sues for £1m

A former partner at KPMG Consulting is suing the firm for damages of more than £1m after losing her £300,000 a year post.

Elizabeth Lake was offered a partnership with the firm, working in London and Dubai, in March 1999, at a salary of £300,000 a year with a bonus and profit sharing, according to a High Court writ.

She transferred to Dubai in October 1999, but on July 10 this year received a letter ending the partnership agreement without notice, she says.

Now Lake is suing the firm for damages for wrongful dismissal, including £855,000 for the lost opportunity to benefit from changes in management structure as a UK equity partner.

She also seeks payment of salary of Pounds 143,800, profit sharing of Pounds 67,335, and bonus of Pounds 66,631, as well as Pounds 26,300 for a lost compulsory gratuity payable under United Arab Emirates law, and lost contractual benefits payable until July next year, of base pay of Pounds 138,500, Pounds 67,335 profit sharing and Pounds 26,250 bonus.

And she claims KPMG has failed to pay her holiday pay of Pounds 46,166 and Pounds 10,520 owed for the 263 days she spent working away from her home base.

Lake, 56, complains the way she has been treated is a departure from the way in which the firm has treated other departing partners, and says the first day she could lawfully have been given notice to leave was January next year.

Whitepaper

The Future of Finance is in the CFO's Hands

Business The Future of Finance is in the CFO's Hands

2m
Save a Week a Month Consolidating Accounts

Accounting Software Save a Week a Month Consolidating Accounts

3m
Mitigating Risk Through Internal Control

Legal Mitigating Risk Through Internal Control

3m
Could tax season have run more efficiently?

Corporate Tax Could tax season have run more efficiently?

4m

Related Articles

Small businesses 'unsatisfied' with their accountants

Accounting Firms Small businesses 'unsatisfied' with their accountants

3d Tom Lemmon
Being good at maths is no longer good enough. A growth mindset is what you’ll need.

Accounting Firms Being good at maths is no longer good enough. A growth mindset is what you’ll need.

1m James Poyser
'A lot of businesses don’t even know about all the services which their accountant provides'

Accounting Firms 'A lot of businesses don’t even know about all the services which their accountant provides'

1m Beth McLoughlin, Managing Editor
Top tips for updating your LLP Agreement

Accounting Firms Top tips for updating your LLP Agreement

2m Fergus Payne, Lewis Silkin
PwC forges maritime supply chain link with Pole Star

Accounting Firms PwC forges maritime supply chain link with Pole Star

8m Chris Warmoll, Writer
Top 50+50: Ranking reshuffle as firms break £15bn barrier

Accounting Firms Top 50+50: Ranking reshuffle as firms break £15bn barrier

9m Emma Smith, Managing Editor
Top 50+50: Eight highlights from the 2018 ranking

Accounting Firms Top 50+50: Eight highlights from the 2018 ranking

9m Emma Smith, Managing Editor
Compulsory retirement: avoiding the partner pitfalls

Accounting Firms Compulsory retirement: avoiding the partner pitfalls

10m Lewis Silkin