Peters & Peters client Black Cube settles dispute with Vincent Tchenguiz

Business tycoon Vincent Tchenguiz has settled a High Court dispute with an agency run by a group of Israeli ex-secret service agents, who claimed he had failed to pay his bills.

The claimant Black Cube instructed Peters & Peters to launch the claim in March. Tchenguiz countered by launching fraud proceedings against Black Cube in Israel.

Black Cube alleged that Tchenguiz and his company Vincos, which trades as Consensus Business Group, agreed to pay it fees for work carried out for him on lawsuits around the world.

The claim, for “debt and other damages” and alleged breach of contract, totalled more than £330,000. The company also claimed that Tchenguiz had agreed to pay additional fees of 1 per cent of the proceeds of cash settlements, court proceedings and proceedings from a proposed movie about Tchenguiz.

The case was the subject of an anti-suit injunction application in the High Court a fortnight ago (10 April 2013).

However yesterday both sides withdrew their claims.

A spokesperson for Consensus said: “The parties’ disputes have been settled through a third party dispute resolution process. Neither party will make any further comment.”

Peters & Peters senior partner Keith Oliver instructed Serle Court Chambers’ Paul Chaisty QC and James Mather for Black Cube.

Meanwhile One Essex Court’s Laurence Emmett was instructed directly by the in-house legal team at Consensus.

Tchenguiz and his brother Robert are both suing the SFO for damages in an ongoing claim relating to the collapse of the SFO investigation into their affairs last year (4 December 2012).