MoFo's London arm sees off £1.4m High Court negligence claim
Morrison & Foerster's (MoFo's) UK arm has successfully countered a £1.4m professional negligence claim brought against the firm by energy investment company Petrochemical Resources. The claim was dismissed earlier this month by Exchange Chambers' Mark Cawson QC, who sat as a deputy judge of the Chancery Division, after the hearing ended in late June.
September 18, 2013 at 06:37 AM
3 minute read
Morrison & Foerster's (MoFo's) UK arm has successfully countered a £1.4m professional negligence claim brought against the firm by energy investment company Petrochemical Resources.
The claim was dismissed earlier this month by Exchange Chambers' Mark Cawson QC, who sat as a deputy judge of the Chancery Division, after the hearing ended in late June.
The case centred around convertible loan notes issued by Petrocapital and held by two shareholders, who had given undertakings in 2008 not to exercise the conversion rights conferred by the notes issued to them.
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