Alternative Dispute Resolution
Many clients involved in a dispute look for a firm that is tough and prepared for a fight. Travers Smith certainly falls into that category.
However, whilst a tough approach to litigation is important, tactical awareness and knowing when to achieve a prompt and satisfactory settlement for the client is essential. Clients often want quick, cost-effective and practical solutions to business disputes. Our pragmatic and commercial style enables us to devise and execute a strategy to fit the client's needs. In a culture where litigators are encouraged to seek settlement of their disputes by mediation or other alternative means of dispute resolution (ADR), we have embraced this approach wholeheartedly and much of our work now typically involves elements of ADR either before or after legal proceedings are begun.
“Travers Smith LLP's impressive results in the financial markets arena deserves special recognition.”
The Legal 500
An important feature of ADR is confidentiality, but in terms of examples of the type of disputes we have successfully settled by mediation, we have acted for:
- Galiform plc, the former owner of the MFI retail furniture chain, in connection with a dispute concerning Aon's administration and underwriting of extended warranty insurance cover sold to owners of MFI products
- the seller of a manufacturing business in connection with a claim for breach of warranties under the share purchase agreement in relation to the safety of plant and machinery
- the wholesale banking arm of one of the UK's largest banks in relation to a claim brought by the Financial Services Compensation Scheme
- one of the top four firms of accountants in proceedings against a UK public company which related to allegations of professional negligence with respect to the accounts of one of its subsidiaries
- a private equity house who had brought proceedings against the vendors of a travel business for breach of accounting warranties
- the trustees of a number of prominent local authority pension funds who brought multi-million pound claims for damages for alleged mismanagement of their funds by a major US investment house. Successful mediation of these claims led to recoveries of over £30m of damages on our clients' behalf