Travers Smith Braithwaite has accepted the resignation of Nigel Campion-Smith, the partner who was involved in the Co-operative Wholesale Society takeover debacle.
Campion-Smith represented the City entrepreneur, Andrew Regan, in his abortive attempt to take over the CWS. In the process, Regan acquired confidential documents that subsequntly appeared to have been wrongfully obtained from the CWS and which were handled and stored by the firm.
Later, under threat of legal action, Travers Smith and Hambros, Regan's merchant bank, reportedly paid the CWS £1m in compensation.
In a public statement, the firm said: “Nigel felt that he was responsible for the embarrassment that the firm suffered.
“Having deliberated fully, he and we feel that the interests of the firm would be best served if he were to leave the partnership, and we have, with great regret, accepted his resignation.”
The firm is keen to put the episode behind it and has made up four partners, Mark Soundy, Jane Tuckley and Spencer Summerfield, in the corporate department, and Andrew Lilley, an employment law specialist.