Misrepresentation

The one where the sale of the business to a company that were not good for the money…

Service Type

Misrepresentation

Client Type

company

Sector

professional services

Case Value

£5m+

Advised a national firm of accountants in relation to allegations of misrepresentation of financial stability against a party acquiring their business.  The client, having been acquired, subsequently found itself in a larger group in an insolvency position and the business ultimately failed as a result. 

The individual partners of the accountancy firm sought legal redress and advice was provided as to the merits of such a claim where losses were deemed to be more than £10m.  The claim was constructed and considered but asset recovery was likely to have been unlikely.

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