RE: PWC drags Slater gordon into Watchstone suit20 Nov 2020 16:08
Access is restricted to those with a non-free email address which is rather annoying for most of us who are retired. Nonetheless, it’s worth persevering and getting a copy of the article through someone who has.
PWC has lodged a part 20 claim to bring S&G into the dispute.
Speaking as a non-legal person and if I have understood the article correctly (E&OE), PWC’s lawyers have made points regarding; the earlier settlement between WTG and S&G and, the meeting between a PWC partner and a person at Greenhill, when WTG allege confidential information was divulged.
Whilst denying the allegation, PWC seeks to make the case that:
- it is implausible that the information which was said to have been provided at the meeting would have remained significant following completion of S&G’s extensive due diligence exercise. In other words, the information would have come out at that point anyway.
- if PWC is to be found liable over the alleged “back channel” then S&G should also be held responsible for the same damage. However, S&G is indemnified under the October 2019 out of court settlement with WTG. This, claims PWC, makes the current case “circular and futile”. PWC will seek the same indemnity or contributions from the law firm, if found guilty. However, S&G says it has settled all WTG claims. WTG is reported to have said nothing as at the date of the article.