A litigation firm pursuing a £15m High Court claim against auditors Moore Stephens LLP, said to have caused losses to retail consumers who used the failed investment firm Lendy, have filed a 30-page-document with more information about the claim, the mouseinthecourt can exclusively report.
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Reporting by Daniel Cloake
✍️ We previously reported on the claimants case in ‘Lendy auditor caused £15m loss to investors, court papers claim‘.
✍️ We also reported that the defendant had been given an extension of time to file their defence in ‘Lendy auditor given new deadline in £15m negligence case‘.
✍️ We also reported on the filing of the defence statement in “Lendy auditor: ‘We made mistakes, but blame the dishonest directors’, defence statement says“
✍️ We then reported on the response to the defence in “‘Don’t blame the directors … the auditors should have audited!’ – Lendy court doc says“
The Business and Property Courts where the claim has been filed
We are now reporting the filing of the ‘claimant’s response to the defendant’s part 18 request’.
All the legal pleadings can be read here:
The document
In a 30-page-document, prepared by solicitor Steven Mark Wilson of Gately PLC, acting for the claimants in this matter, significant further details are given about the claim.
Mr Wilson is no stranger to this sort of litigation having been a joint author of “Auditors or frauditors: who is liable?” in R3 recovery magazine.
In the document we’re told that the auditors sent a list of some 40 questions to the claimants in October 2024. Mr Wilson explains they have been “responded to by the Claimant voluntarily, in the spirit of cooperation…”.
We don’t intend to regurgitate the entire document – we’re sure those who are reading this page in the first place will be motivated enough to read it though themselves.
So what happens next?
At this point we’d normally be waiting for a date for the court to hold a procedural hearing to determine costs and case management issues. This would likely be held in the first half of 2025 based on the current availability of the High court in London.
The parties had until 24th January 2025 “to file and serve their respective Directions Questionnaires” at the court.
This is a form that both parties in a civil claim must fill out to provide information about the case. The court uses the information to decide how to proceed with the case.
At any point the claimant could choose to discontinue the claim, or the parties could decide the outcome between themselves and settle the claim.
We’ll aim to follow this case as it progresses through the court system. You can support us with the cost of this endeavour by buying us a coffee or donating to the cheese fund.
Case details
Manolete Partners Plc v MSR Partners LLP
Case Number: BL-2024-000191
Manolete Partners Plc are represented by Gateley
MSR Partners LLP are represented by Clyde & Co
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