Professional auditing firm Moore Stephens, said to have acted “negligently” and with a lack of “professional scepticism” when they signed off the accounts of the now failed peer-to-peer lending firm Lendy, have been given a new deadline to file a defence at the High Court.
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Reporting by Daniel Cloake
Full details of the underlying claim can be read in “Lendy auditor caused £15m loss to investors, court papers claim“.
Defendants in a civil case are normally given at most 6-weeks to file a formal defence of a claim made against them.
In July 2024 procedural Judge Deputy Master Laurie Scher extended the filing of a defence by MSR Partners LLP, the defendants in this claim, to 14th October 2024.
The mouseinthecourt can now reveal that the date has been extended for a second time to 31st October 2024 by order of Judge Master Julia Clark. The order records that both parties consented to the extension.
The claimants have correspondingly been given until 6th December 2024 to “file and serve its Reply“.
We’ll aim to obtain copies of these documents shortly after they have been filed at court. You can support us with the cost of this endeavour by buying us a coffee or donating to the cheese fund. The documents obtained for this article alone cost £22.
Assuming the case proceeds the next step after exchange of pleadings will be for a so-called costs and case management hearing likely to be held in the first half of 2025.
Were this case to proceed to a trial then it might be 2026 or later before we can take our seats in the public gallery. We’ll aim to keep you updated.
Case details
Manolete Partners Plc v MSR Partners LLP
Case Number: BL-2024-000191
MSR Partners LLP are represented by Clyde & Co
Manolete Partners Plc are represented by Gateley
Mouse in the Court 