PracticeAuditMake-or-break for litigation funding

Make-or-break for litigation funding

Moore Stephens is awaiting a make-or-break judgment at the High Court after locking horns again in its high-profile litigation funding clash

Moore Stephens logo

Last month, the firm resumed its battle with Benedict Mckenzie, liquidator of
collapsed company Stone & Rolls, but is now awaiting a key ruling.

The two sides have been trading legal blows since 2007, but Moore Stephens
got a major boost after a judge threw out a bid for compound interest to be
tacked on to the audit negligence claim, which would have meant £90m in possible
damages.

The case has serious implications for the rest of the profession if
litigation funding becomes par for the course in the UK.

A Moore
Stephens
spokesman said, ‘The appeal against the strike-out was heard in
March. There is a reserve judgment on the way.’

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