Freshfields update: “The horse may well have bolted.”

Freshfields Bruckhaus Deringer has offered two undertakings in its attempt to overturn an injunction preventing the firm from acting on Philip Green’s bid for Marks & Spencer (M&S)

So far during the hearing, which is in session at the moment, Michael Brindle QC, as counsel for Freshfields, has undertaken that “Green and the consortium have not, thus far, received confidential information relating to Marks & Spencer from Freshfields”.

The other, undertaken in court, was that the lawyers working on the bid for Green had not received any confidential information relating to M&S.

The undertakings came in response to an observation made Lord Justice Pill who remarked that the firm had already been acting on the bid for a month, and said: “The horse may well have bolted.”

Lord Justice Pill and Lord Justice Kay are presiding over the appeal, which came about when M&S’s law firm won an injunction against Freshfields acting for Green due to concerns over a potential conflict of interest.

The hearing continues.