Tag Archives: Disputes

Schillings Grows Family Department To Meet Increasing Client Demand

Schillings, the leading law firm protecting the rights and reputations of corporate organisations, high-profile individuals and those in the public eye, has increased its family department to meet the growing demand from its clients, particularly those who want to ensure their family and matrimonial matters are not publicised by the media.

Schillings has recently recruited Davina Hay to join its family law department alongside Keith Schilling, Rachel Atkins and David Greer. A litigator with expertise in family law, Davina advises on separation, divorce and ancillary relief, jurisdictional disputes, multi-jurisdictional divorce cases involving significant assets and enforcement issues. Before she joined Schillings, Davina trained and qualified at a City law firm where she spent six years acting for a number of well known actors, successful entrepreneurs and international clients. She brings with her extensive experience as a litigator and enhances the firm’s provision of advice to high net-worth and high profile individuals in all aspects of divorce, relationship breakdown, ancillary relief, pre- and post-nuptial agreements and private children matters.

Schillings’ family department is led by Keith Schilling, the founder and senior partner of the firm, who represented Shan Lambert in her successful appeal in 2002, achieving the first 50/50 split of assets in a “big money” divorce.

Working alongside Mr Schilling is Partner Rachel Atkins who earlier this year, together with Associate David Greer, acted for a celebrity father in a test case following the introduction of new rules allowing media attendance in family proceedings, and succeeded in application to exclude the media from attending court hearings concerning his child.

When speaking about the growing family department Keith Schilling said, “In the last few years we have seen a significant increase in the demand for advice from high net worth and high profile individuals in connection with matters relating to divorce, often involving multiple jurisdictions, children and most notably pre- and post-nuptial agreements.”

Mr Schilling went on to say, “High net worth individuals and those in the public eye regularly discover their privacy has been invaded or their reputation defamed when details of their personal lives or the breakdown of their relationship are leaked to the press and publicised. It is logical, therefore, to respond to the demand from our clients by strengthening our team and combining our family and matrimonial advice with the firm’s pre-eminent experience in the area of reputation protection, so that we can ensure that press interest is managed to our client’s advantage.”

Speaking about the press interest surrounding high net worth individuals and those in the public eye Davina Hay said, “Clients, even those without a high public profile, are increasingly finding themselves the subject of intrusive press interest following relationship breakdown or in the event of disputes involving children. Aside from the unwanted emotional strain at an already stressful time, the financial consequences of the resulting reputational damage can be devastating. However, it is possible to manage such threats and give clients the space to resolve family issues free from unwanted media scrutiny.”

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Schillings Announce Libel Claim Win For Michael Essien Against The People

The Chelsea premiership footballer Michael Essien, represented by London law firm Schillings, has won his libel claim (Case number HQ09X02164) against the People newspaper.

Libel proceedings were issued against MGN Limited, the publisher of the People newspaper, following the publication of two articles. The first article, published on 25 May 2008, carried the headline “Chelsea Cheat Michael Essien: I’ll Stand by my Love Child”. This was followed by another article on 3 May 2009 under the headline “Sex Cheat Star Essien Gets Boot”.

The articles claimed that Mr Essien had cheated on his long term partner by having numerous affairs with other women and fathered a child behind his partner’s back. As a result, his partner had called off their wedding. These allegations were found to be false and grossly defamatory towards Mr Essien.

The People has accepted that these allegations are untrue, and has paid Mr Essien substantial damages as well as agreeing to pay his legal costs. The People have also undertaken not to repeat the allegations.

In its apology, the People said: “On 25 May 2008 and 3 May 2009 we reported that Michael Essien had cheated on his long term girlfriend Nadia Buari by having numerous affairs behind her back including one in which he fathered a child. On 3 May we reported that as a result of his behaviour Ms Buari called their wedding off. We now accept that these allegations are untrue. We apologise to Mr Essien for any distress or embarrassment caused.”

A representative of Schillings who represented Michael Essien said: “There has been a lot of inaccurate reporting concerning Michael and he was not prepared to allow this misreporting to continue.”

Schillings also said that, “these allegations were not put to Michael or his representatives prior to publication and had the People done so they would have been informed of their utter falsity.”

Caroline McAteer of The Sports PR Company said on behalf of Michael Essien: “Michael is delighted to have won his case and to have set the record straight. He would have preferred not to take action, but had no alternative in this case. Michael is pleased that this matter has now been resolved.”

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Mayor Slay In Bed With Big Law Firm

Mayor Slay In Bed With Big Law Firm. Missouri Tax Payers To Be Taken To Cleaners By Lewis Rice & Fingersh.

Another disgrace is taking place with your tax dollars. The City of St.Louis has unanimously approved a $300,000.00 loan that is forgivable and does not need to be re-paid so that the millionaire attorneys from a 200 person St.Louis law firm of Lewis Rice and Fingersh can buy new fancy desks for themselves in a move to new offices. See St.Louis Business Journal Article dated Friday, October 16th, 2009. The City through its St.Louis Development Corp. decided it must have too much money, federal money that is, and decided to spread the wealth, but the wrong way. It is not giving to the poor, the needy, the hungry, but to rich attorneys to help them move. Now the City of St.Louis on behalf of Lewis, Rice and Fingersh (Lewis & Rice) wants to petition to Missouri Development Finance Board, a State agency, to approve over $5 million of tax payer money to help the law firm move to fancy new offices at One City Center and you the tax payer will be paying for that.

This is absurd injustice at its greatest. This is insulting to the tax payers of the City of St.Louis and all the residents of the Great State of Missouri and to all tax payers throughout the country. Media should take note of this and help stop this abuse. Lewis Rice & Fingersh has donated thousands of dollars to city and State officials and now its pay back time with your tax dollars. County Executive Charley Dooley received a $10,000.00 political contribution this year. The City of St.Louis Mayor received a $5,000.00 this year alone in contributions as well. There is a conflict here. Its politics the old fashioned way, the corrupt way.

How can you get in on some of these favors with Mayor Slay, well, give him a $10,000.00 political contribution (is that what its called) and he will give you back $300,000.00 and ask the State for $5 million, thats how. You scratch Mayor Slay’s back and he will more then scratch your back. So what else did the chairman of Lewis Rice & Fingersh Jack Pruellage have to say or do for the Mayor to get such special treatment. Mr. Jack Pruellage who takes home a seven figure income needs tax payers to buy him new furniture for his new offices and he prefers the tax payers pay for his fancy new furniture and for his move. Why should he pay for it when he has Mayor Slay for a friend.

Think of all the homeless, the hungry and the needy there are out there. Think of how many blankets and bologna sandwiches can be bought with that money. But Mayor Slay found a better home for it, in the pockets of Lewis Rice & Fingersh attorneys and Jack Pruellage, its chairman. The Missouri Development Finance Board meeting to hear the proposal to provide $5 million to One City Center building so that the law firm can move and have fancy new offices, will be held at 8:30 AM, Tuesday October 20th at the Rennaissance Grand Suites at 827 Washington Ave., Lennox Room, St.Louis, MO.

Action must be taken to stop abuse and waste of tax payers dollars to enrich millionaire attorneys at your tax payers expense. The partners at Lewis and Rice make $400,000 to $600,000 per year and the chairman Jack Pruellage makes millions per year and Missouri tax payers will help him get richer. No wonder they say its a “Great Country America”. Sure is, but great for who ? Officials on the take with public money, thats for who. Politics Chicago style no doubt, right here in Missouri.

Call Governor Jay Nixon to voice your objection at 573-751-3222 and your local State Representative’s office. You should also call the Missouri Development Finance Board at 573-751-8479 to complain about the proposal and tell them not to do it. Call the Mayor Francis Slay at 314-622-3201 and make him aware that receiving political contributions and then using tax payers money to buy furniture for Lewis Rice & Fingersh is plain wrong.

Submitted by Citizens Against Waste, a non for profit organization aiming at stopping waste and abuse of tax payers money. Phones 314-226-2808 or 314-226-2146.

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Shillings Win Apology And Damages For Olivier Martinez From The Sun

Olivier Martinez, represented by London law firm Schillings and Paris law firm Asmar & Assayag has won his libel action against The Sun, at the High Court in London, following the publication of false allegations that Mr. Martinez cheated on Kylie Minogue during their relationship. (Case number: HQ08X02862)

On 26 November 2007, The Sun published an article under the headline “Kylie ‘still loves’ ex Martinez” which contained the defamatory and untrue allegation that Mr Martinez had cheated on Kylie Minogue. In order to vindicate his reputation Mr. Martinez issued libel proceedings against News Group Newspapers Limited in relation to the article.

A representative of Schillings said that: “This false allegation has caused Mr. Martinez considerable embarrassment and distress.”

They also said that: “Mr. Martinez is glad that The Sun has accepted that the allegations are false and that the article should never have been published at all”.

In the High Court in London The Sun newspaper apologised to Mr. Martinez, agreed to publish an apology in the newspaper and to pay damages and legal costs.

The Sun’s lawyer said: “The Defendant sincerely apologises to the Claimant for the distress and embarrassment this article has caused. It accepts that the allegations are untrue and ought never to have been published.”

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Schillings Will Be Taking Part In A Panel Discussion At The 2009 Reputation Conference

Schillings, the leading law firm protecting individual and corporate reputations, will be taking part in a panel discussion, chaired by Dr Kevin Money Associate Professor and Director of the John Madejski Centre for Reputation, at the 2009 Reputation Conference.

Keith Schilling is Senior Partner and Co-Founder of Schillings and is a Solicitor-Advocate. He is one of the most sought after reputation management lawyers in Britain due to his work in defamation and privacy and in 2008 he was placed 10th in the Times list of the 100 most powerful and influential lawyers in England for his work in achieving a number of landmark decisions in privacy law. He has helped to protect the reputations of film, sports and entertainment stars as well as international corporations and business executives.

Keith Schilling, joins a panel of experts in protecting reputations to answer the question ‘Future avenues for building reputation. Where do we go from here?’ The panel will close the conference with a review of the learnings from the day and discuss how organisations should prepare themselves for the future challenges in managing reputations and corporate responsibility.

As a new decade approaches, the conference will examine the challenges of managing reputation and relationships in times of organisational change and will consider the lessons learnt from recent corporate scandals in the management of reputation.

About Schillings:
Schillings is one of Britain’s top law firms dedicated to safeguarding the reputations of international corporations, brands, celebrities and high-profile business people. The firm’s track-record in defamationprivacy law and copyright cases, as well as commercial litigation is second to none.

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Schillings Client Jacob Zuma, The President Of South Africa, Has Won Very Substantial Damages After A Libel Case Against The Guardian Newspaper Following False Allegations Printed Earlier This Year

On 6 March 2009, the Manchester based newspaper published an article that falsely claimed that President Zuma was guilty of rape, corruption and bribery. President Zuma began legal action against the daily newspaper earlier this year claiming defamation, saying the article was grossly false and indefensible.

schillings - Jacob Zuma

After being taken to court, the Guardian has apologised to the ANC leader and agreed to pay very substantial damages as well as cover legal costs.

In a statement read in the High Court on 30 July 2009, Schillings solicitor Jenny Afia described the allegations as being “of the utmost seriousness and totally untrue”. She went on to explain that: “In light of the facts that the [Guardian] is now willing to pay very substantial damages and it has publicly apologised to [President Zuma], [President Zuma] considers that his reputation in this matter has been entirely vindicated and he is prepared not to proceed any further in his action against the [Guardian].”

Speaking from Mahlambandlovu last night, the president’s official residence in Pretoria, President Zuma said: “What was said was extremely serious, not just for me but for the ANC. I am very pleased that the Guardian has now apologised. I firmly believe in press freedom and freedom of expression. I have fought for these and other basic rights my whole life and I will continue to support this. We had to take action in this matter because the publication crossed the line. Media around the world are obliged to exercise their freedom of speech in a responsible manner.”

About Schillings:
Schillings is one of Britain’s top law firms dedicated to reputation management and the safeguarding of international corporations, brands, celebrities and high-profile business people. The firm’s track-record in media management, privacy law and copyright cases, as well as commercial dispute resolution and sports law is second to none.

Defamation, privacy and copyright are at the heart of the firm’s work, prompting The Independent newspaper to call Schillings a “spectacularly efficient media law firm”.

Schillings clients include supermodel Naomi Campbell, actress Kate Winslet, seven times Tour de France winner Lance Armstrong, premiership footballer Wayne Rooney, Harry Potter author JK Rowling, pharmaceuticals maker GlaxoSmithKline, steel maker Arcelor Mittal, the Harrods Group and the London Stock Exchange.

Court case number: HQ09X01290

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Schillings Take First Place At The Lawyer Awards 2009

Once again Schillings has reason to celebrate the successes of their legal team as one of its lawyers, Matthew Himsworth, wins first place in the Assistant Solicitor of the Year category at the Lawyer Awards ceremony.

Matthew Himsworth is an associate at Schillings and specialises in reputation protection on behalf of corporations, brands and public figures. He has developed his career over the last seven years, having trained with Schillings, and has built a strong profile both within the firm and externally within the legal profession and with clients.

The award is presented to the solicitor who has demonstrated entrepreneurship, business building skills and technical legal skills. Matthew’s commitment to both the firm and its clients extends beyond his core role and is evident in the numerous projects he has initiated. In particular he developed the firm’s trainee coaching programme with the objective to provide full training in the practical legal tools as well as promoting thought-leadership on relevant topics. This training programme helps prepare trainees so that when they qualify they can build upon their legal technical know-how by enrolling in the Schillings Academy.

Matthew’s highest profile success was for the stock broking firm, Collins Stewart in its well documented libel action against the Financial Times. This was the largest claim ever brought and Matthew helped achieve a ground-breaking apology on the front page of the Companies and Markets section along with and substantial damages

Speaking after the awards, Matthew Himsworth said, “It was a great surprise and a huge honour to win the award. It’s a tremendous accolade to be recognised by your own profession.”

Matthew has received praise from many of his clients, mainly from the firm’s sports law practice, which he has been instrumental in developing. Clients commend Himsworth as, “Personable whilst providing clear and sensible advice”, and that, “He offers excellent strategic recommendations”. One major sporting body went on to state, “We have found Matt to be extremely professional and we are delighted to be associated with him”.

This award follows a number of recent achievements at various industry awards. Schillings won first place in the Partner of the Year category in 2008 and has twice been winners of the Niche Firm of the Year (2002 and 2003) at the Lawyer Awards. In addition, the firm won the Young Solicitor of the Year at the British Legal Awards 2008.

About Schillings:
Schillings is one of Britain’s top law firms dedicated to safeguarding the reputations of international corporations, brands, celebrities and high-profile business people. The firm’s track-record in defamation, privacy law and copyright cases, as well as commercial dispute resolution and sports law is second to none.

Defamation, privacy and copyright are at the heart of the firm’s work, prompting The Independent newspaper to call Schillings a “spectacularly efficient media law firm”.

Schillings clients include supermodel Naomi Campbell, actress Kate Winslet, seven times Tour de France winner Lance Armstrong, premiership footballer Wayne Rooney, Harry Potter author JK Rowling, pharmaceuticals maker GlaxoSmithKline, steel maker Arcelor Mittal, the Harrods Group and the London Stock Exchange.

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Schillings Launches The Schillings Academy

Schillings the leading law firm protecting the privacy and reputation of corporates and high-profile individuals has launched the Schillings Academy, an advanced and unique course which will provide unparalleled training to staff at the firm.

schillings

The Schillings Academy will be delivered in-house and will equip the firm’s employees with the skills and specialist knowledge to provide the same excellent client service that the firm’s partners have become known for.

The Schillings Academy is the result of two years of development and will concentrate on building excellence in three key areas including advanced legal training for qualified lawyers, enhanced teaching for trainees and commercial skills training for the business support function. The first phase of the Schillings Academy will roll out a two year, 100 hour bespoke training programme in reputation management and privacy law to qualified lawyers currently working at the firm. Additionally the programme will carry CPD points and will ensure that all qualified lawyers exceed their CPD requirements without the need to go on external generic courses.

The four main components of Schillings Academy for qualified lawyers will be advanced modules on defamationprivacy law and confidence and advocacy and related reputation management laws. Working together with leading professors including Professor Gavin Phillipson and the College of Law, the Schillings Academy will foster and harness new ways of thinking on how to approach and deploy the law to achieve the best results for the firm’s clients.

Speaking on the firm’s 25th anniversary, Keith Schilling, founding partner of Schillings, said: “Schillings is fortunate to have created a reputation over the last 25 years for being at the forefront of privacy and reputation law. The launch of our Schillings Academy demonstrates to our clients our continued commitment to deliver excellence to our clients in everything that we do. It is with great pride that we are launching this market leading initiative, which demonstrates Schillings commitment to providing the best training to its lawyers, with the most advanced knowledge and expertise available. This academy takes the firm into a new season and we look forward to our next 25 years.”

About Schillings
Schillings is one of Britain’s top law firms dedicated to safeguarding the reputations of international corporations, brands, celebrities and high-profile business people. The firm’s 25 year track-record in defamation, privacy law and copyright cases, as well as commercial dispute resolution and sports law, is second to none.

Defamation privacy and copyright are at the heart of the firm’s work, prompting The Independent newspaper to call Schillings a “spectacularly efficient media law firm”.

Schillings clients include supermodel Naomi Campbell, actress Kate Winslet, seven times Tour de France winner Lance Armstrong, premiership footballer Wayne Rooney, Harry Potter author JK Rowling, pharmaceuticals maker GlaxoSmithKline, steel maker Arcelor Mittal, the Harrods Group and the London Stock Exchange.

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Schillings Law Firm Has Been Shortlisted In The Lawyer Awards 2009

Schillings, one of the UK’s foremost law firms leading the way in protecting reputations by employing legal tools including privacy, defamation, copyright and commercial litigation, has announced that Matthew Himsworth has been shortlisted for the Assistant Solicitor of the Year award at this year’s The Lawyer Awards.

schillings.co.uk

Matthew Himsworth is an associate at Schillings and specialises in reputation management on behalf of corporations, brands and public figures. He has developed his career over the last seven years, having trained with Schillings, and has built a strong profile both within the firm and externally within the legal profession and with clients.

A strong factor in Matthew’s shortlisting for ‘Assistant Solicitor of the Year’ was his demonstration of entrepreneurship and business building skills, when identifying new opportunities for creating additional revenue streams f r o m an area within the practice. Working with the Schillings marketing team, Matthew devised a strategy for formally growing the sports law practice. The objective was to create a short, medium and long term plan to provide partners and fee earners with a framework to facilitate keeping in regular contact with existing clients and a method to raise brand awareness and generate new business development leads.

Matthew’s highest profile success was for the stock broking firm, Collins Stewart in its well documented libel action against the Financial Times. This was the largest claim ever brought and Matthew helped achieve a ground-breaking apology on the front page of the Companies and Markets section and substantial damages.

Matthew’s legal technical skills together with the many excellent references he received have contributed to his nomination in the upcoming Lawyer Awards.

The Lawyer Awards, now in its fifteenth year, remains the benchmark for excellence within the legal profession and are open to participation by private practice, in-house counsel and members of the Bar. The winners of the awards will be announced at the Awards ceremony on Tuesday 23rd June 2009 at the Grosvenor House Hotel in London.

About Schillings:
Schillings is one of Britain’s top law firms dedicated to safeguarding the reputations of international corporations, brands, celebrities and high-profile business people. The firm’s track-record in defamation, privacy law and copyright cases, as well as commercial dispute resolution and sports law is second to none. Defamation, privacy and copyright are at the heart of the firm’s work, prompting The Independent newspaper to call Schillings a “spectacularly efficient media law firm”. Schillings clients include supermodel Naomi Campbell, actress Kate Winslet, seven times Tour de France winner Lance Armstrong, premiership footballer Wayne Rooney, Harry Potter author JK Rowling, pharmaceuticals maker GlaxoSmithKline, steel maker Arcelor Mittal, the Harrods Group and the London Stock Exchange.

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PR, Communications and the Law – Annual Briefing 2009

Schillings, top UK law firm dedicated to protecting the reputations of international corporations, brands and celebrities, has announced the new conference programme for the upcoming ‘PR, Communications and the Law – Annual Briefing 2009’ at the Paramount Club, Centre Point in London on 28th April.

The event will take the form of a breakfast briefing and will cover the subjects of what should drive communications strategies and corporate reputation management.

Joining Rod Christie-Miller, Partner at Schillings, to help lead the briefing will be Dr Kevin Money, Associate Professor at Henley Business School and Director of The John Madejski Centre for Reputation.

Dr Kevin Money will cover the subject of motivational drives and organizational theories. An understanding of these drives (the drive to acquire, learn, bond and protect) and how they may change during times of economic uncertainty – can provide a competitive edge to anyone shaping communications strategies.

Recent research suggests that in an economic downturn, the drive to protect is likely to assume greater importance in our lives, and Kevin will explore how that drive is likely to be the biggest driver of reputation.

Rod will then take over to present a talk on the important subject of reputation management. In the sphere of reputation management, the unconscious drive to protect is borne out by the very real threats that corporates now face.

Over the coming year, the three key threats for people working in PR and communications are liable to be:

– Responding to leaks and whistleblowers
– Tax gaps and the Board
– Protecting the corporate reputation during high-profile employment disputes

Rod will explain how despite these new threats, the potential to protect reputations via a combined PR and legal approach is actually stronger than ever.

The briefing will finish off with a round of questions to the panel.

About Schillings:
Schillings is one of Britain’s top law firms dedicated to safeguarding the reputations of international corporations, brands, celebrities and high-profile business people. The firm’s track-record in defamation, privacy and copyright cases, as well as commercial dispute resolution is second to none.

Defamation, privacy and copyright are at the heart of the firm’s work, prompting The Independent newspaper to call Schillings a “spectacularly efficient media law firm.”

Schillings clients include supermodel Naomi Campbell, actress Nicole Kidman, seven times Tour de France winner Lance Armstrong, premiership footballer Wayne Rooney, Harry Potter author JK Rowling, pharmaceuticals maker GlaxoSmithKline, steel maker Arcelor Mittal, the Harrods Group and the London Stock Exchange.

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Schillings Announces Details Of The Protecting Reputations In Sports Conference

Schillings, one of the UK’s top law firms dedicated to protecting the reputations of international corporations, brands and celebrities, has announced the full conference programme for its upcoming forum in protecting reputations in sports at the Paramount Club, Centre Point in London on 31st March.

The half day Schillings conference will bring together leading experts in the industry. The keynote address will be delivered by the former international rugby star Kenny Logan, winner of more than 70 caps for his country. The speaker panel will debate issues facing sports brands and sporting professionals from a public relations, media and legal perspective.

The sports industry is a sophisticated and competitive marketplace. Correctly balancing the needs of the corporate sponsor, with those of the sporting team and the players and personalities involved, can provide a winning formula. However, in reality this balance is hard to achieve and even harder to maintain in an increasingly celebrity obsessed society.

Attendees at this event will:

– Gain a complete insight into the reputation management issues facing the sports industry
– Find out how the glare of the celebrity spotlight and the pressure of sponsorship can affect a sports personality’s performance
– Understand the importance of brand value and realise the commercial potential of brands
– Examine the new threats of unscrupulous marketers and the increasing cases of false endorsements in the sports world
– Discover how to use the law and PR to protect brands from a media threat
– Network with the industries’ leading figures over a networking lunch and drinks reception

The Schillings conference programme will open with a networking lunch followed by presentations covering brand value from both individual and corporate perspectives, before moving on to the realities and practicalities of a media crisis. The conference will then conclude with a panel discussion and drinks reception.

Representing Shillings will be the Conference Chairman and Schillings Partner, John Kelly, and Schillings Associate, Matthew Himsworth.

John Kelly heads up the Sports practice at Schillings as a litigation lawyer who represents high profile brands and individuals in the entertainment and sports world. As well as advising premiership and international football clubs and agents he also provides sports stars with advice on contract and commercial dispute resolution, sponsorship deals as well as general media management matters.

Matthew Himsworth is a lawyer who specialises in reputation management on behalf of corporate brands and public figures. Matt has extensive experience in dealing with the media in both pre- and post-publication matters. His sports practice includes clients such as Lance Armstrong, the Professional Rugby Players Associations, WMG and Premiership football.

Other speakers include Tim Luckett, Managing Director at Hill & Knowlton and Phil Hall, CEO of PHA Media

About Schillings:
Schillings is one of Britain’s top law firms dedicated to safeguarding the reputations of international corporations, brands, celebrities and high-profile business people. The firm’s track-record in defamation, privacy and copyright cases, as well as dispute resolution is second to none. Defamation, privacy and copyright are at the heart of the firm’s work, prompting The Independent newspaper to call Schillings a “spectacularly efficient media law firm.” Schillings clients include supermodel Naomi Campbell, actress Nicole Kidman, seven times Tour de France winner Lance Armstrong, premiership footballer Wayne Rooney, Harry Potter author JK Rowling, pharmaceuticals maker GlaxoSmithKline, steel maker Arcelor Mittal, the Harrods Group and the London Stock Exchange.

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WestLB Apologies And Pays Undisclosed Amount to Balli Group

Bloomberg Markets has carried an article confirming that WestLB paid undisclosed damages and issued a letter of apology to Vahid Alaghband and Balli Group plc.

Former WestLB CEO Alexander Stuhlmann told Vahid Alaghband the bank regretted the hardships to him and Balli.

“You have always acted professionally and honourably in your dealings with WestLB,” Stuhlmann said in a letter that Alaghband received in November. “From our point of view, there are no obstacles to establishing business relations with your group.”

The ‘Alaghband’s Nightmare Ends’ article states that in November 2008, WestLB offered an undisclosed financial settlement and agreed to withdraw allegations of credit fraud levelled at Balli Group in connection with its takeover of Kloeckner & Co AG in 2001. The WestLB allegations led to the arrest and investigative custody of Alaghband in 2003 by German authorities. He was released after 11 months without charge.

Bloomberg states that Vahid Alaghband, Chairman of Balli Group Plc, had to wait seven years to close the book on his failed takeover of German steel trader Kloeckner & Co. and to try to put the acquisition that cost him 11 months in jail behind him.

Balli Steel, Alaghband’s London-based steel trading company, bought Kloeckner for 1.1 billion euros ($1.42 billion) in 2001.

Alaghband’s partner in the deal, WestLB AG, Germany’s third-biggest state-owned bank, filed a criminal complaint accusing Alaghband of fraud. He was jailed in Zurich in 2003 and then transferred to Duisburg where Kloeckner was based. In May 2003, while he was behind bars and couldn’t repay a €212.5 million loan, WestLB bought Kloeckner. BLOOMBERG MARKETS reported on the ordeal in “The Long Nightmare of Vahid Alaghband” (May 2005).

Following the reconciliation at the end of 2008, a joint statement was issued which said, “Kloeckner & Co Beteiligungs GmbH and the Balli Group of Companies are pleased to announce that they have reached an amicable settlement to the disputes with WestLB AG which arose from the sale of Kloeckner & Co AG to Balli by E.ON in 2001.”

Balli is delighted that the seven year saga of misunderstandings and legal proceedings involving German trade unions, central and regional German state politicians, a plethora of international banking, investment and accounting consultants, and steel-trading tycoons – has now been settled and put to rest.

Vahid Alaghband, Chairman of Balli Group, commented: “We are pleased with the outcome of this case, from which many lessons were learnt. This settlement is proof yet again of the wisdom that most business litigations launched on grounds of receiving justice and litigating on issues of principal eventually become a means for reaching the inevitable pragmatic peace. We believe that the financial settlement is a good one for us and avoids the need for the continuation of a costly multi-jurisdictional litigation by us. Most importantly for us as a family business with a long tradition of trading over three generations, we feel that the WestLB admission has finally set the record straight and confirms our contention throughout that we have always acted honourably and professionally in our dealings with our counterparts.”

Case number: Landgericht Düsseldorf Gz.: 40 O 61 /05

About Balli Holdings
Balli Holdings, established in 1982 is a private, multi-national corporation, headquartered in London, with offices around the world. Headed by Vahid, Hassan and Nasser Alaghband, Balli operates a number of affiliated companies specialising in commodity trading, industrial, real estate and private equity with operations in over 20 countries. Balli’s acquisition from utility company E.ON in 2000 of Germany’s Kloeckner Steel Trade GmbH led, in 2001, to Balli’s offer – with the financial backing of Credit Suisse and WestLB – for “senior” company Kloeckner & Co AG. Goldman Sachs had acted as M&A adviser Balli on the deal.

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