This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies. Find out more here.

Towry agrees to pay over £930k in legal costs

  • Print
  • Comment

Towry has agreed to pay in full Raymond James’ legal costs of £930,936 plus VAT for the High Court case it brought against the rival adviser firm.

Both parties have spent this afternoon negoiating the costs to be met by Towry after Mrs Justice Cox dismissed the case against Raymond James and seven former Edward Jones advisers at the Royal Courts of Justice in London earlier today.

During the case Towry sought £5.9m in damages from each defendant personally over claims advisers conspired to breach contracts when prevented them from soliciting clients for up to 12 months.

In total 388 clients with assets totalling £33m transferred to Raymond James.

  • Print
  • Comment

Daily Email Updates
If you enjoyed this article, sign up to receive the latest news and analysis from Money Marketing.

Money Marketing Awards 2015
Put your firm forward as the leading practitioner in your field. Adviser and Advertising categories are open to entries - Enter Now.

Have your sayEdit my profile/screen name

You must sign in to make a comment

Second Opinion

sponsored by Bright Grey

Fund Data

Editor's Pick


Will more providers shun pensions guidance over fears of straying into advice?

Job of the week

Latest jobs

View all jobs

Most recent comments

View more comments