It’s not clear how Weil Gotshal & Manges feels about author William Boyd but ‘The Ice Cream Wars’ probably isn’t its favourite book.
The firm has been hit with a £10m professional negligence claim by private equity house Bancroft after its sweet deal with a Slovakian ice cream company turned sour.
Bancroft bought a 94 per cent stake in the ice cream company only to find it was beholden to the minority shareholder.
Bancroft claims the firm failed to explain that part of the contract, with costly consequences.
Weil isn’t the first, or the last, firm to be hit with a professional negligence claim. And, by all accounts, following the Court of Appeal Plebgate ruling on costs last week, litigators could find themselves in the firing line.
They say misery loves company but that will prove (ice) cold comfort to Weil.
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