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Inter-Alliance ends Lincoln legal fight

Inter-Alliance has dropped its £35m law suit against Lincoln Financial Group, with both sides paying their own costs in an out of court settlement.

Inter-Alliance chief executive Keith Carby, who took over last month, has moved quickly to settle the litigation over a former Lincoln property, started by his predecessor Stuart McGreevy. Carby says the case should never have been brought and settling will mean Inter-Alliance will not risk paying Lincoln&#39s costs.

The deal comes after a difficult 12 months for Inter-Alliance, which issued a profit warning in January, when Carby said the court case had caused the firm to lose focus.

The case centred on the ownership of Lincoln&#39s former operating centre at Uxbridge and head office in Gloucester.

The case went to court before the end of last year and the judge&#39s decision was expected within days. Inter-Alliance estimates its costs at £1.5m while Lincoln puts its expenses at £2m, with both sides stressing the importance of a clean start to be able to work together in the future.

Lincoln head of communication Ian Crowder says: “The changes at Inter-Alliance have clearly made a difference.”

Carby says: “I do not think we should ever have pursued damages for the property claim.”

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