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Chase de Vere pays £130k in court case

Investment IFA Chase de Vere is facing a bill of £130,000 in legal

expenses after a court threw out its £10,000 claim against a former

adviser.

The company went to court in an attempt to reclaim £10,000 in

commission from Vanessa Barnes because it believed she missold a pension to

one of its clients.

But the claim was dismissed and Chase de Vere has been ordered to meet all

costs, including Barnes&#39 legal costs of £60 000.

The award was made on an indemnity basis. This type of order is usually

made when the judge decides the losing party has acted unreasonably.

Barnes, who now works for London-based Hannay Investments, will receive

£60,000 of the £130,000 total. She resigned from Chase de Vere

before the claim was brought at Central London county court.

She says: “It is never easy taking on the might of a massive company. I am

pleased to have been so comprehensively vindicated.”

Chase de Vere investment director Graham Hooper says: “We were trying to

do the right thing but did not come out on top at the end of it all.”

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