Grant Thornton cleared of fraud


A judge has struck out a £2,2bn damages claim against Grant Thornton filed by a property tycoon, who claims that the firm was involved in a conspiracy with the Serious Fraud Office (SFO) in an investigation linked to the 2008 collapse of Icelandic bank Kaupthing.

In the case before the London’s Commercial Court the judge ruled that the length and format of Vincent Tchenguiz’s 94-page claim filed against Grant Thornton, Kaupthing Bank and three others had “no place in English civil procedure”.

“Statements of case must be concise. They must plead only material facts… and not background facts or evidence. Still less should they contain arguments, reasons or rhetoric,” the judge said according to The Telegraph.

The court’s rules state that a filing’s maximum length should be 25 pages unless a judge agrees to accept a longer document. Tchenguiz’s barristers failed to ask a judge for permission to hand in a longer filing. The judge has given Tchenguiz 21 days to refile a shorter claim.

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