Jonathan Cary
Partner
London
Overview
Dispute over the sale of a minority stake in an Indian company ultimately acquired by a global buyer at a significantly higher valuation as a result of further on-sales.
Approach
We acted for a director of a wealth management firm named as a defendant in English proceedings linked to the sale of shares in an Indian company. The claimants alleged they had been misled into selling their minority stake at an undervalue as part of a fraudulent scheme.
We guided the client through a fairly nuanced litigation strategy on a matter that posed real reputational risk in light of significant media interest.
Outcome
The matter was litigated in the English courts alongside related proceedings in India. Resolution of the dispute involved a multi-pronged strategy and co-ordination across legal teams representing multiple Defendants . The dispute was resolved through a settlement ahead of trial, avoiding further costs and publicity for our client. The resolution brought a close to a highly publicised and multi-faceted international dispute.
Impact
Our client avoided the time, cost, and reputational damage of a public trial in a high-profile, multi-jurisdictional dispute. By articulating clear weaknesses in the case, including on causation, and working in tandem with other legal teams we helped protect their professional standing and business interests. The settlement allowed them to move on without any admission of liability or further involvement in proceedings linked to the collapse of a major international business.
"This case demonstrates the importance of a clear, well-evidenced defence in cross-border litigation. By focusing on the facts and our client’s limited role, we were able to resolve a complex and high-profile dispute without admission of liability or prolonged proceedings."
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