PracticeAccounting FirmsMoore stephens seeks claim strike out

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
Funding
.

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’.

More:

Negligence claims could reach new heights with litigation
funding trend

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