We acted on a series of disputes between our client, a property investment company, and its former agent in relation to its portfolio of commercial property in London.
We acted in substantial litigation brought against our client by its former agent for £7 million for commission allegedly due for introducing our client to the property. The defence denied all entitlement to commission, alleging breach of fiduciary duty and counterclaimed in negligence for a sum of in excess of £48 million for the additional costs of the property.
Another property was subject to substantial redevelopment, which resulted in three linked claims in negligence and for unpaid fees. The agent had made decisions in respect of the management of the leases of individual units, which were alleged to be indefensible and which had allowed the tenants of those units to demand ransom payments when our client came to redevelop the property.
There were issues around limitation, questions of the extent of a management company's duty, as well as issues about quantum meruit, unjust enrichment and the correct approach to quantum in those cases.
The combined value of these matters was in excess of £60 million. All matters were settled on confidential terms.