Accountants Settle Tax Advice Suit Over £26M Insurer Sale

Law360, London (October 25, 2019, 3:53 PM BST) -- An accounting company has settled a suit brought by a former shareholder in a travel insurer who claimed that bad advice caused him to lose out on a lucrative tax break when the business was sold for £26.1 million ($33.4 million).

The claim, brought by Martin Banbury against RSM U.K. Tax and Accounting Ltd., has been stayed in the High Court after both sides agreed to terms set out in a confidential settlement earlier this month, according to an Oct. 22 Tomlin order issued by Deputy Master Francis Collaço Moraes. Tomlin orders allow parties to enforce the terms of a settlement...

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