By James Simons-
Reputable firm Allen & Overy is being sued by the owners of London’s former Olympic stadium over its role in drafting a Premier League club’s lease agreement, it has been reported.
London Legacy Development Corporation (LLDC) and E20 Stadium have brought a professional negligence claim against the firm, following advice the prestigious firm gave on a concession agreement signed in 2013, when West Ham United was confirmed as the main tenant of the stadium.
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Financial News, LLDC and E20 claim that the law firm’s poor drafting of the agreement contributed to their difficult relationship with West Ham and a series of costly legal disputes over the interpretation of the agreement.. In 2019, Allen & Overy is the world’s 10th largest law firm by revenue, and was one of two firms to surpass the US$1 trillion dollar mark in terms of deal value. It is a world leader in terms of market revenues from legal deals.
Advice given by firms or organisation that claim to possess a special skill can be liable to damages in the event of a proven error of judgement that causes harm to those who rely on the advice. However. Allan and Overy which boasts a team of formidable legal experts, have disputed the claim.
A spokesperson for Allen & Overy said: ‘This claim is entirely without merit and we will defend it vigorously.’ In 2018, the firm has faced criticism over diversity and gender pay gap. Externally the firm states, “Allen & Overy’s strategic priorities are to achieve better gender balance at its top levels and to promote greater LGBT+ inclusion.
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