PracticeAccounting FirmsGrant Thornton faces Heritage writ

Grant Thornton faces Heritage writ

Legal action against Grant Thornton, which could involve a multimillion pound claim for damages, has begun with the lodging of a writ at the High Court.

Grant Thornton is being sued for breach ofcontract and negligence in a dispute over reports it compiled on housewares company Heritage plc.

Jeffrey Lampert, former chairman of Heritage, now in administrativereceivership, is suing the firm over its alleged failure to communicatethe contents of reports made in July and August 1995 on behalf of Lloyds Bank, a major creditor.

Lampert alleges that the firm’s failure to deliver, fax, or communicate thecontents of the reports, and a draft report, was negligent and inbreach of contract.

Damages are also being sought over the sale of Heritage’sproperty on and after July 1996, and allegations that Grant Thornton, which also acted asadministrative receiver, was negligent.

Lampert has consistently claimed that had he seen the reports, his losses as a major investor in the company would have been substantially reduced, and that because he had not seen them, he was not aware of how seriously receivership was being considered.

The writ was issued by London solicitors Freemans.

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DTI raises issues in Heritage inquiry

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