Wilde Sapte is set to lose Deloitte & Touche and remaining fees from the Barings case when litigation partner Philip Rocher goes to Clifford Chance at the start of the next year.
Rocher's main client Deloitte & Touche is a defendant in the £1bn Barings case.
The case is set for 2001 at London's High Court (The Lawyer, 6 September).
Head of litigation at Clifford Chance Chris Perrin says: “Both Clifford Chance and Wilde Sapte are being instructed by Deloitte & Touche.” But a spokesman for Clifford Chance says: “As from 1 January 2000, Wilde Sapte will cease to be involved in the case. Philip Rocher will head up the account.”
Rocher appears to be running the case through Clifford Chance, despite remaining at Wilde Sapte for the rest of the year. Some of his team have gone to Clifford Chance to coordinate the case from there, and more are set to leave when Rocher goes.
He says: “It is a big case and it needs a big team. Some of the people who worked on the case for me are going. And some of the people working on the case have gone to Clifford Chance: William Farara, a litigation assistant, and Adrian White, a para-legal. I am running the case with those people and others at Clifford Chance.”
Rocher began looking for a new post when Wilde Sapte formalised talks with Arthur Andersen last year. Deloitte & Touche, which told him it would not be keen on instructing him if he was a partner at a rival accountants.
The Andersens merger collapsed, but it came too late to persuade Rocher to stay. Initial talks with Freshfields failed before he spoke to Clifford Chance (The Lawyer, 23 June 1998).