Top Court Urged To Blame Grant Thornton For £32M Swap Fee

Law360, London (October 14, 2020, 4:50 PM BST) -- A building society told the U.K.'s highest court on Wednesday that Grant Thornton should be held liable for its swaps losses, arguing that a judgment clearing the auditor wrongly placed an "extraordinary burden" on the lender to speculate what could have happened decades in the future.

Counsel for a building society has urged the Supreme Court in London to overturn the Court of Appeal's decision and make Grant Thornton liable. (AP Photo/Lefteris Pitarakis) Rebecca Sabben-Clare QC, counsel for Manchester Building Society, urged the Supreme Court to overturn the Court of Appeal's decision from 2019. She argued that Grant Thornton's professional negligence...

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