Following the collapse of the Serious Fraud Office case against Vincent Tchenguiz for which it is believed he received around £3m rather than the £200m he had been claiming, he took legal action against Grant Thornton two of their employees and the Kaupthing Bank administrators.
In essence, Tchenguiz asserted that a £1.6b refinancing through the collapsed Icelandic bank was thwarted by Grant Thornton raising concerns to the apropriate authorities was scupperd by this action, and that Grant Thornton conspired with the Kaupthing bank administrators to deny him the £1.6b he needed to finance his debt ridden company.
Tchenguiz made a claim against them for an astonishing £2.2b!
On a postive note for Tchenguiz(what a shame) he settled his claim against Kaupthing Bank and as part of the settlement withdrew his claim against Grant Thornton.
However Grant Thornton have no intention of letting matters rest there.
That Tchenguiz withdrew his claim does "vindicate their position" according to Grant Thornton
Grant Thornton accuse Tchenguiz of making "Gratuitous, untrue and damaging statements about Grant thornton and two of their employees"
They then proceed to say that "We shall be pursuing claims for costs and other damages which will amount to millions of pounds"
Study of the issues involved lead About Peverel to believe that at all times Grant Thornton acted with total probity.
We wish them well in their endeavours.
