Watson Farley & Williams has successfully defended itself against a professional negligence claim arising from the global financial crisis.
Former WFW client Itzhak Ostrovizky alleged in a counterclaim that WFW had, in 2007, negligently drafted three share purchase agreements relating to Ostrovizky's investment in Greek solar electricity projects. As a result of the poor drafting, Ostrovizky claimed, he suffered a significant loss on the deal, and was eventually drawn into litigation in Greece.
Justice Silber of the English High Court of Justice dismissed the charges, suggesting that any damage Ostrovizky may have suffered was more properly attributed to the global financial crash than any malpractice by WFW.
Watson Farley & Williams was defended by Clyde & Co Partner Sarah Clover, while Ostrovizky was represented by Mathew Arnold & Badwin Partner Jonathan Sachs.