Collyer Bristow to fight £25m Rangers FC negligence claims
Collyer Bristow is set to fight negligence claims totalling more than £25m against the firm relating to its role in the high profile takeover and subsequent administration of Rangers Football Club.
April 17, 2012 at 01:28 PM
2 minute read
Collyer Bristow is set to fight negligence claims totalling more than £25m against the firm relating to its role in the high profile takeover and subsequent administration of Rangers Football Club.
The value of the claims, which Collyer Bristow dismissed as "highly speculative", emerged today (17 April) after the High Court issued a deadline of yesterday for those involved in the deal to submit claims.
Rangers' administrators, Duff & Phelps asked last month (23 March) to delay an agreed court date in order to bring "wider claims" against the law firm.
Collyer has instructed Clyde & Co for its defence, with commercial disputes partner Richard Harrison leading the action for the firm. Harrison has instructed 3 Verulam Buildings's Cyril Kinsky QC and Matthew Hardwick as counsel.
Collyer said in a statement: "As expected, late yesterday evening Collyer received detailed particulars of claim on behalf of the administrators. A significant proportion of the damages claimed by the administrators (in excess of £25m) relate to claims for 'consequential loss' which we believe to be highly speculative.
"As we have previously stated, it is our intention to contest all claims brought by the administrators in the strongest possible terms and this remains our position."
Earlier this month, Duff & Phelps won a court order forcing Collyer – which advised Scots businessman Craig Whyte on his takeover of Rangers FC last year – to transfer £3.6m from a client account held by Whyte into the care of Taylor Wessing, which is advising the administrator led by restructuring head Nick Moser.
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