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Howard Kennedy and Brick Court Chambers’ silk Andrew Lydiard have won the negligence case brought against them by a Portuguese businessman.
Antonio Anibale Andrade Baptista Lopes withdrew his claim of $77m (£41.7m) in the High Court this morning (13 July) and agreed to pay both Howard Kennedy and Lydiard costs on an indemnity basis.
Lydiard will receive an interim payment of £1.6m, and Lopes is understood to be contributing £1.25m towards Howard Kennedy’s costs.
Lopes’s counsel, Nicholas Davidson QC of Four New Square, told Mr Justice Cooke that terms had been agreed between his client and both defendants. He added that the settlement terms meant a total exoneration of Lydiard’s conduct.
Lopes filed the case after the failure of his application to be joined to an earlier action relating to the acquisition of aircraft and spare parts from British Aerospace by Portuguese company Euroair.
He claimed that Howard Kennedy failed to join him to the spares action and also claims that Lydiard failed to give him appropriate advice.
Kennedys’ partner Matt Andrews instructed Four New Square’s Justin Fenwick QC for Howard Kennedy. Barlow Lyde & Gilbert partner Richard Harrison instructed Three Verulam Buildings’ Ali Malek QC for Lydiard.