Woodsford funds successful Scottish professional negligence claim
Lord Ericht of the Scottish Outer House, Court of Session has handed down his judgment in a significant, multi-million pound claim against TLT Solicitors. Lord Ericht ruled in favour of the claimant (known as the ‘pursuer’ in Scottish legal terminology) Centenary 6 Limited (C6), funded by Woodsford. He held that TLT’s negligent advice to C6 in a case against insolvency practitioners at Grant Thornton caused a loss in that case, which C6 otherwise had good prospects of winning.
Commenting on the decision, Woodsford’s Chief Investment Officer Charlie Morris stated:
“This fantastic result has been long time in the making. Woodsford started supporting C6 in this classic David v Goliath fight back in June 2017. On the one side, C6 with no meaningful assets, on the other a well-resourced law firm backed by deep-pocketed PI insurers. Despite having a meritorious claim (negligence was ultimately admitted), the defendant and its insurers dragged this out for far longer than they should have. They now have to pay the price for that. Woodsford is delighted to have been a part of this successful team.”