November 18, 2024
Full articleFull-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”
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