Moore stephens seeks claim strike out
High Court judge asked to dismiss $87m negligence suit banked rolled by litigation funding
Mid-tier firm Moore Stephens has asked a High Court judge to strike out a
$173.6m (£87) negligence claim against it.
The legal action relates to the firm’s role as auditor in the late 1990s for
Stone & Rolls, a collapsed company linked to Zvonko Stojevic, a Croatian
businessman. The claim alleges audit negligence and a resulting failure to
detect a pattern of fraud.
Brought by liquidators of S&R, the claim is controversially being bank
rolled by litigation funding specialists IM Litigation
Yesterday, Mark Howard QC, representing Moore Stephens, told the High Court
the claimant was ‘boldly coming before the court and saying I can make a profit
from this fraud’.