As reported in The Times on 30 July 2013, the Financial Reporting Council’s Disciplinary Tribunal has released its draft report on Deloitte & Touche’s involvement in the MG Rover/Phoenix Four relationship in the period 2001-2002 – one of The Lawyer’s Top 20 Cases of 2013. It found the firm and one of its former partners, Maghsoud Einollahi, guilty of professional misconduct in relation to two transactions relating to the acquisition of a £400m loan book (Project Platinum) and the treatment of £100m of tax losses (Project Aircraft). At a sanctions hearing on 29 July 2013, Fountain Court’s Head of Chambers, Timothy Dutton QC leading Nicholas Medcroft of Wilberforce Chambers (instructed by Slater & Gordon) appeared, as they have throughout the case, for the Executive Counsel to the Financial Reporting Council. Fountain Court’s Bankim Thanki QC leading Ben Jaffey of Blackstone Chambers (instructed by Andrew Hart and Sarah Parkes of Freshfields Bruckhaus Deringer) appeared for Deloittes and Mr Einollahi. For the sanctions hearing Bankim Thanki QC replaced Four New Square’s Sue Carr QC, who appeared at the substantive hearing before the Tribunal in March this year, and withdrew upon her elevation to the High Court Bench. The Tribunal has reserved its decision on sanctions.