Calling the Situation Grim, the Supreme Court Takes Suo Motu Cognizance of Delays in NCLT Approvals  ||  Supreme Court: Admission of a Claim by a Resolution Professional is Not Debt Acknowledgment  ||  Supreme Court: Public Figures Must Exercise Caution as Their Words Have Consequences in Society  ||  SC: State Must Act as a Model Employer, Criticising the Union For Not Regularising ISRO Workers  ||  J&K&L High Court: Minor Minerals Have Major Environmental Impacts and Must be Regulated  ||  Del HC: Unexplained Money Received by Public Servant is Not Bribery Without Proof of Official Favour  ||  Del HC: There is No Absolute Bar on Granting Co-Convicts Parole/Furlough Together in Suitable Cases  ||  Bom HC: LARR Authority Can Examine Limitation Issues in Land Acquisition References under 2013 Act  ||  MP HC: Long-Serving Employees Cannot Be Denied Regularisation by Retrospective Statutory Amendments  ||  J&K&L HC: Routine Challenges to Lok Adalat Awards Defeat Their Purpose of Quick Dispute Resolution    

Excalibur Ventures LLC v. Texas Keystone Inc & Ors (Rev 2) - (14 Dec 2015)

Clifford Chance settles professional negligence case out of court

MANU/UKCM/0150/2014

Civil

Clifford Chance, a leading law firm in the UK and one of the largest law firms in the world, settled a professional negligence case out of court for an undisclosed amount. It had faced the negligence claim after spectacularly losing Excalibur Ventures’ claim for specific performance against several large oil producers in the United States, which then saw Excalibur burdened with legal costs of the Defendants. The UK High Court had assessed total maximum costs upwards of £30 million, on an indemnity basis, noting a multitude of deficiencies in the claim. Finding it to be “based on no sound foundation in fact or law…replete with defects, illogicalities and inherent improbabilities”, the Court was unequivocal in attributing the burden of the failed litigation on ‘litigation funders’, including Andonis Lemos, founder of the company which professionally funded Excalibur’s litigation and who was assessed to nearly £14 million of damages. The litigation funders had since begun proceedings against Clifford Chance for the same.

Tags : LAW FIRM   NEGLIGENCE   CLIFFORD CHANCE  

Share :        

Disclaimer | Copyright 2026 - All Rights Reserved