Stone & Rolls Ltd (in Liquidation) v Moore Stephens
A high profile example of the unpredictability of litigation and, therefore, the risks of third party litigation funding
The claimant company brought a substantial claim for professional negligence against its former auditors, with the benefit of third party funding. The Court of Appeal, reversing the first instance decision, held that the auditors had a defence and accordingly struck out the claim. However, in a majority decision the House of Lords dismissed the claimant’s appeal
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