Full-service
legal firm Gilson Gray is celebrating a landmark win on behalf of its client,
US-based private equity house Lime Rock Partners, following the successful
defence of a multi-million-dollar court case.
The
claim, raised in the Court of Session in Edinburgh by prominent oil and gas
businessman Robert Kidd, was understood to be the single biggest damages claim
in Scottish legal history.
The
case centred on an investment deal involving ITS Tubular Services, a
North Sea drilling company set up by Mr Kidd in 1989. A minority stake in the
company was sold to Lime Rock in 2009. Mr Kidd had made a number of allegations
arising from that deal. In his decision, issued by senior Court of Session
judge, Lord Tyre, Mr Kidd’s claim was dismissed in its entirety with Lime Rock
winning on every point.
A
team of litigation and dispute resolution specialists from Gilson Gray acted
for Lime Rock, including Alex Garioch, Fraser Cameron, and Iain Grant, all of
whom welcomed the judge’s decision last week.
Alex
Garioch, partner at Gilson Gray, said: “In what was the
highest value commercial litigation case in Scottish history, we were delighted
that our client’s position was entirely vindicated. We at Gilson Gray are proud
to have successfully represented such a high-profile client in an extremely
complex litigation. In this case, our team’s experience in the oil and gas
sector complemented our litigation and dispute resolution work to reach such a
positive outcome for our client.”