Taking Stock - Silence over Barings adjournment keeps public hanging
For what could be one of the longest ever lawsuits in the UK, costing millions of pounds and involving several dozen packs of lawyers, disclosure on the Barings case has been minimal.
Monday was supposed to be the beginning of a long and arduous legal action involving official liquidators Ernst & Young, the bank’s ex-auditors Coopers & Lybrand and Deloitte & Touche. But, it turned into a non-starter.
TS happened to be lurking around court 80 – when a gaggle of lawyers and Justice Evans-Lombe scuttled to a back room.
Moments later the pinstripes promptly left without a bye or leave. No drum roll, no announcement, not even a token nod or glance from the judge.
So it was sometime before on-lookers realised the case had been adjourned. So much for keeping the public informed.
One observer commented: ‘It shouldn’t be allowed to happen in a public court.’ Too right. Fingers crossed that they tell us the verdict when it happens.