Linklaters reportedly pays £13m to settle professional negligence case
Linklaters has paid up £13 million to settle a professional negligence claim brought against it by former client Levicom.
Levicom claimed that Linklaters overstated its chances of success in a court action rival Tele2 AB, back in 2001. On the basis of that advice Levicom pursued litigation and ended up settling on less favourable terms than it would have done if the advice had been more realistic. On this basis Levicom launched a £37 million professional negligence claim.
A court finding that there had been negligence but no loss to Levicom was overturned on appeal, and it was determined that it was up to Linklaters to show that there had been no major loss. Settlement discussions followed and the parties agreed upon a sum of £13m to be paid to Levicom.
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