Professional negligence

Background

The liquidator of a group of investment funds (IF) wanted to bring a claim against the auditors of the IF for failing to identify frauds perpetuated by the former manager of the IF.

Harbour’s funding

With the support of Harbour’s funding, the claimant’s lawyers were able to obtain, review and organise a significant volume of the IF’s trading data. This was presented to the defendant’s lawyers at an early stage of the proceedings which led to a satisfactory settlement of the claim and avoided an otherwise costly trial.

Outcome

Harbour’s funding enabled work which is ordinarily done at a later stage in the proceedings to be undertaken much earlier on. This contributed significantly to an early settlement of the matter; something which the claimant intended to achieve from the outset.