Tesco boss Dave Lewis tells court of ‘shock’ at discovery of accounts misstatement October 11, 2018 Tesco chief executive Dave Lewis told Southwark Crown Court today of his “genuine shock” at being presented with an internal memo detailing a £250m misstatement in the supermarket giant’s accounts. Lewis, a witness at the fraud trial of Tesco’s ex-managing director Chris Bush and ex-UK food commercial director John Scouler, said he was presented with [...]
Litigation funder Vannin Capital pulls London float blaming market conditions October 10, 2018 Litigation funder Vannin Capital has cancelled its London initial public offering (IPO) blaming market volatility. Vannin, which finances litigation for businesses and law firms in exchange for a slice of any settlement, announced its intention to float last month. Market sources said the projected float could have valued the business at up to £1bn. Read [...]
Supreme Court backs Northern Irish bakery in gay cake fight October 10, 2018 The UK Supreme Court ruled today that a Northern Irish bakery that refused to decorate a cake with a pro-gay marriage slogan acted lawfully. In 2014 the Ashers bakery refused to fulfil an order from the customer Gareth Lee who had asked for a cake to be decorated with the Sesame Street characters Bert and [...]
German industry lobby group warns of hard Brexit risks October 9, 2018 The head of an influential German business lobby group warned today that Europe could slip into a “huge crisis” in the event of a hard Brexit. Managing director of the BDI industry association Joachim Lang told a news conference in Berlin today that a breakthrough in Brexit negotiations was needed at the upcoming European Union [...]
Tesco execs stayed silent about a massive hole in its accounts say prosecutors October 9, 2018 Two senior former Tesco executives on trial for fraud in London were presiding over a “car crash waiting to happen” Southwark Crown Court heard today. Sasha Wass QC, prosecuting for the Serious Fraud Office (SFO), said Tesco’s former UK managing director Chris Bush and ex-UK food commercial director John Scouler were aware of a shortfall [...]
Robert Tchenguiz accuses Grant Thornton of conspiracy over fraud office probe October 8, 2018 Lawyers for property mogul Robert Tchenguiz today accused audit firm Grant Thornton of conspiring to persuade the Serious Fraud Office (SFO) to launch an investigation into his business dealings with the Icelandic bank Kaupthing. The flamboyant millionaire was in a packed London courtroom to hear his Queen’s Counsel Stephen Rubin of Fountain Court accuse the [...]
Magic Circle deal star Nigel Boardman’s next act September 24, 2018 Slaughter and May deal star Nigel Boardman is approaching the second act of his career with the same strategic approach that made him the most renowned English corporate lawyer of the last 20 years. When he retires from Slaughters’ partnership at the end of April to become a part-time consultant with the firm it [...]
Former Malaysian Prime Minister hit with corruption charges September 20, 2018 Former Malaysian Prime Minister Najib Razak was charged today with abuse of power and money laundering over his role in a major corruption scandal. Prosecutors charged Najib with four counts of abuse of power and 21 counts of money laundering over allegations that he used his position to gain more then 2.3bn ringgit (£420m) between [...]
Former Malaysian Prime Minister hit with corruption charges September 20, 2018 Former Malaysian Prime Minister Najib Razak was charged today with abuse of power and money laundering over his role in a major corruption scandal. Prosecutors charged Najib with four counts of abuse of power and 21 counts of money laundering over allegations that he used his position to gain more then 2.3bn ringgit (£420m) between [...]