Legal Business

Tchenguiz brothers’ legal bill hits £5.1m in court battle against Grant Thornton

The drawn-out legal battle between property billionaires, Vincent and Robert Tchenguiz, and those they hold responsible for the Serious Fraud Office (SFO)’s botched investigation into their business dealings has proved a costly affair. It has emerged they have already paid out a collective £5.1m legal bill to date in their £3bn litigation against Grant Thornton and others, surpassing the SFO’s £4.5m settlement to the pair two years ago.

First filed by Vincent Tchenguiz after a settlement with the watchdog in 2014, the pair allege defendants, includingGrant Thornton, conspired to pass information, dishonestly, to the SFO in order to instigate and encourage an investigation by the watchdog into his relationship with collapsed Icelandic bankKaupthing, and that they did so for their own commercial gain.