Slater and Gordon vs Quindell settled just before trial starts

by Steve Randall22 Oct 2019

Slater and Gordon vs Quindell settled just before trial starts
The dispute over Slater and Gordon’s acquisition of the professional services business of Quindell has been settled.

The now-separate Slater and Gordon UK business was suing Watchstone Group (formerly Quindell) for alleged breaches of warranty, deceit and fraudulent misrepresentation against Watchstone and individuals relating to the sale of the Group's professional services division in 2015.

But just hours before the trial was due to begin, the two parties agreed an unconditional settlement.

In a filing to the London Stock Exchange, Watchstone Group plc says the settlement is made “without admission of liability by either party” and covers “all of S&G's claims or potential claims”.

Watchstone does not accept that there was a proper basis for the S&G Claims and S&G does not accept that there was a proper basis for the counterclaim.

“The decision was made with consideration of the costs of pursuing the Company's defence and counterclaim at trial and to the inherent uncertainty of the outcome of any legal process," said Richard Rose, Non-executive Chairman of Watchstone.

S&G will receive £11 million of the £50 million held in escrow with the remainder returned to Watchstone. Neither party has applied for costs.

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