Brightside claim against former CFO and auditor ‘moving toward resolution’

High Court London

Exclusive: A legal dispute between Brightside and its former co-founder Paul Chase Gardener was outlined in court on Friday.

The dispute also involves auditors RMS UK, formerly Baker Tilly, and has been running for over three years.

It relates to audits carried out by RMS prior to the £127m sale of Brightside to private equity house Anacap in 2014.

RMS was the auditor for Brightside between 2011 and 2013, during which time Chase Gardener was chief financial officer.

A Post reporter attended the Commercial Court on Friday. The court heard how expert input on the exact loss Brightside faced may not be ready until 21 December.

However, Judge Robin Knowles requested that information be shared earlier if possible.

RSM was ordered to pay £85,000 to Brightside in November 2016 over a claim related to delays in proceedings.

It is understood the damages sought are significantly higher than that, and are in the millions.

Brightside also appeared in court on Friday in a separate case related to a claim against a syndicate comprised of AIG, QBE and CNA, over allegations that they owe Brightside in the region of £2.2m for professional indemnity claims.

Both cases are set to continue.

A spokesperson for Brightside said: “While we cannot comment on the specifics of the cases, overall we are pleased with the outcome, which involved tidying up the procedural and timetabling issues. The cases are progressing and we hope moving towards resolution.”

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