Tory backbencher calls on government to close ‘loopholes’ letting London firms work for the Kremlin

Tory backbencher Kevin Hollinrake has called on the government to close the “loopholes” that have allowed UK professional services firms to continue carrying out bankruptcy proceedings on behalf of the Russian state. The Conservative party MP accused accountancy giant Grant Thornton, litigation funder Harbour, and London law firm CMS of undermining the UK’s efforts to “restrict the Kremlin’s access to funds,” by carrying out bankruptcy proceedings against Russian oligarch Alexey Motylev. A spokesperson for Harbour noted that the litigation funder had not been involved in the case since June 2021. More from City A.M.

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Barclays faces £40m lawsuit over breast implant scandal

A £40m High Court lawsuit, which is scheduled to be heard this October, claims Barclays’ Business Support Unit helped restructure Hospital Medical Group (HMG) to ensure it avoided paying compensation to thousands of women who were given dangerous breast implants. The claim is backed by Henderson & Jones, which purchased the claim from HMG’s liquidators.

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€190 million arbitration award for Harbour-backed case

Rockhopper Exploration, a UK-based international oil and gas exploration and production company with key assets in the North Falkland Basin, has announced a successful arbitration award in its case against the Republic of Italy, with compensation set at EUR 190million plus interest. Harbour Litigation Funding provided financing for the case.

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