Addleshaw Goddard replaces TLT on Barclays' Dewey suit following partner hire
Ex-TLT partner Richard Clayton brings dispute over loans to former partners of collapsed US firm Dewey to his new firm
January 22, 2015 at 04:19 AM
2 minute read
Addleshaw Goddard has taken over a Barclays lawsuit against former partners of defunct firm Dewey & LeBoeuf from TLT.
The firm was appointed on the job after finance litigation partner Richard Clayton brought the instruction with him when he moved to Addleshaws from TLT late last year.
Clayton had been the sole TLT partner acting for Barclays in its attempt to recoup loans made to three former partners – Charles Landgraf, Londell McMillan and Elias Farrah – before Dewey went bust in 2012.
A notice of change in Barclays' legal advisers was served at the High Court when Clayton joined Addleshaws at the end of last year.
Barclays and a number of other banks have tried to reclaim money lent to former Dewey partners as professional practice loans.
Landgraf has counterclaimed arguing Barclays conspired with Dewey, misrepresenting the financial health of the firm to get partners to take up capital loans with the bank.
Barclays' application for summary judgement in its favour was refused by Mr Justice Popplewell at a hearing last February. The case was set to go to trial on 1 December 2014, but will now commence in May this year.
TLT retains the 'preferred' status on Barclays' legal roster it first won in July, as does Addleshaw Goddard, which was reappointed at the same time.
The mandate will be a boost for Addleshaws' litigation department, which lost both insurance litigation head Richard Leedham and fraud, regulatory and corporate crime team boss Ian Hargreaves last year.
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