Explosive allegations surface in Halliwells court case

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  • A little bird tells me BDO have lost...
    Not a great few days for Dermot or AG, but their strategy has been unfortunate in many respects,
    The narrow basis of this claim was defeated by the terms of the retirement deed, despite desperate attempts to make allegations in court at the last minute -I hear that other serious allegations were made in court which have not yet been reported - when these should have been made previously in the proceedings (to answer the earlier posters, one would assume that AG have now notified the SRA if their counsel is referring to these matters in open court and that the SRA will now be forced to take some action).
    A bigger issue is that rather than pursuing the potential raft of claims that were available to BDO against various of the EPs with the co-operation of many ex-FSPs, they have chosen to only pursue the EPs on Spinningfields (and to threaten to reclaim EP drawings) and to alienate the ex-FSPs by threatening to try to reclaim FSP drawings, when their input could have been very useful to the case against those actually responsible for the appalling Halliwells fiasco.
    BDO having made these explosive allegations is helpful to the ex-FSPs in terms of knowing that there is potentially material wthin BDO and AG's control which could be used to mount a defence or counterclaim to any drawings claim against them and indeed to bring claims against the EPs.
    Not a good result for Dermot or the creditors (just the hearing will have been very espensive)... the big winners would appear to be Mr Burns and any other EPs (and indeed FSPs) who have robust retirement deeds, and to a lesser extent the FSPs generally.
    I expect this sorry saga still has some twists and turns in it...

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  • Did he not also (yawn yawn) give his life to that firm?

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