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Following a 4-day hearing, the Commercial Court has allowed a defendant to bring a counterclaim despite it involving a fundamental change from his previously pleaded case, which the judge found had been “misleading and deliberately so”.  The judge, Mr Justice Cooke, nevertheless found that “This is not a case… where the party has failed to make a sufficiently clean breast of what he has done to disentitle him from permission to amend.”

The case, which the judge described as “hard fought litigation with no holds barred”, involves a claim for up to £100 million and a counterclaim in respect of assets alleged to be worth between £150 million and £200 million. It is to be listed for a 14-16 week trial in late 2016.

Ian Mill QC and Mark Vinall (instructed by Jones Day) appeared for two of the new parties being joined to the proceedings as defendants to the counterclaim.