Leading private client firm Withers has confirmed it will appeal a recent High Court decision that ordered the firm to pay £1.6m in damages after upholding a professional negligence claim, while the claimant Wellesley Partners (WP) has said it also intends to appeal a finding of the judgment.
Heard over a nine-day trial in October 2013, the dispute arose after Withers acted for executive search company WP in relation to the admission of new partners into the partnership, which subsequently required the drafting of a new LLP agreement. As part of the agreement, Bahraini bank Addax Bank was to make a significant capital contribution (about £2.5m) and acquire a 25% interest in the partnership.
