Eversheds has settled a negligence claim brought against it by investment adviser and fund manager London & Capital.
London & Capital sued Eversheds for negligence last year after the company failed in its £220m attempt to acquire St James Capital’s property portfolio. Eversheds was advising.
London & Capital lost a £300,000 ‘commitment sum’ and claimed that Eversheds was responsible because it failed to act quickly enough.
The claim was issued last year, but the parties recently came to an amicable settlement which ended the legal proceedings.
Robert Chapman, Eversheds national professional indemnity partner, said: “Eversheds and London & Capital Group have settled the claim made by London & Capital Group with regard to the latter’s deal with St James. This settlement is mutually agreeable to both parties and the matter is now closed.
“We’re glad that an agreement could be reached without the need for further legal action.”
Eversheds associate Nicola Kendall acted for the firm in the litigation, instructing Fountain Court Chambers junior Tom Keith.