Advised a co-director and 50% shareholder of a large property investment company in relation to allegations that his fellow shareholder and director had misappropriated and diverted funds for his own benefit unbeknown to the client.
Advised in relation to all aspects of the claim including unfair prejudice proceedings and breach of fiduciary duties. The loss was alleged to be in the order of £1,000,000. Allegations were made by both parties which created risk as to ongoing litigation costs and likely recovery.
As a result, the parties agreed to mediate and avoid the cost of litigation so to find resolution.
