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Leigh Day claims £105m costs for Trafigura litigation

City Gent, you are obviously a fule, or an idiot (wouldn't surprise me), or someone from the Lawyer seeding the posts. Assuming the former, I can't think of many large scale collective actions where every individual claimant got more than the law firm that in Leigh Day's case stuck their necks out and tangled with a very litigious firm which had a lot to lose. They certainly didn't do this for the cash, as for ages it was pretty apparent it all might come to naught. And as Trafigura retain Mssrs Carter Ruck, some of the most expensive in the business, who fire off faxes like you or I take breaths, I'm not surprised the cost have been huge. LD have been dealing with huge numbers of claimants spread across a country with poor comms and travel for most people, as well as fighting a huge transnational with vast amounts of cash, some of which was spent trying to spend LD out of the fight. So, let's go over that greed argument again: Huge transnational farms out disposal of hideous toxic trash to untrustworthy local trader (don't worry, Lawyer, all this is libel-proof), then claims zero knowledge of actions or liability, then head of local awful firm goes to jail for actions, and huge transnational, after much fighting, hands over millions in a non-settlement without admitting liability. Then, er, it seems to do it again. Hmm. You know, if I were shareholder in Trafigura I'd be most peeved about shelling out 100s of millions in non-settlements that my company's no liable for unless, er, there might be a good reason to do so. Hey ho! Well done Leigh Day.

13-May-2010

9:27 am