Stone & Rolls Ltd v Moore Stephens: Michael Brindle QC, Mark Simpson QC and David Murray are currently appearing in the House of Lords for the liquidators of the claimant company in a professional negligence claim (worth around $100m) against the company’s former auditors. The matter concerns when, if ever, a claim against auditors for negligent failure to detect fraud will be barred by the illegality principle. This case has potentially wide implications for the audit profession.
Billed by The Lawyer as one of the top 10 cases of 2009, this matter has attracted considerable press interest – see, for example:
http://business.timesonline.co.uk/tol/business/law/article5702800.ece
http://www.thelawyer.com/cgi-bin/item.cgi?id=136146
