Oil rig sale advice was negligent, says claimant

17th March 2015 by

Legal giant Holman Fenwick Willan (HFW) is facing a negligent commercial lawyer claim from one of its clients, Pimesa Trading Incorporated (Pimesa), in relation to advice given during the sale of an offshore drilling rig.

The allegations of commercial lawyer professional negligence are numerous and include claims that the legal firm exposed the seller to unnecessary risk, that it breached fiduciary duty and that it left Pimesa without protection.

The commercial lawyer professional negligence claim has its origins in the fact that the oil rig was damaged in 2005 just before the sale was finalised, resulting in “‘alleged salvage works at a very inflated cost”‘. This, it is claimed, put Pimesa in a “‘weak negotiating position”‘.

It is further claimed that the legal firm then advised thePimesa on a settlement but that this proved to be as “‘disadvantageous”‘ to it as it was “‘advantageous”‘ to the buyer.

“‘HFW held itself out as having expertise and being highly experienced in issues of maritime law, and in particular, as having considerable expertise in acting for clients in the purchase and sale of maritime assets such as offshore drilling rigs,”‘ states the claim.

London’s Commercial Court last month heard a case management conference in relation to the dispute in relation to the case and the case has been listed for a two week trial in February 2016.

For information and advice regarding your possible right to compensation following the negligent services of a solicitor or other legal professional find out more with Healys LLP today.