Gallagher v Ross: the case continues
The legal battle between Arthur J Gallagher and David Ross, Mark Mugge and Christopher Keey has grabbed the industry’s attention since Insurance Age broke the news about the court case in late March. Two months later, and with several documents published, the focus is on the claims, defences and counterclaims.
Acquisitions
Gallagher details that it was looking into the possibility of buying Towergate, Iridium and a 20% share in Autonet and that the three defendants diverted these opportunities by dealing with Highbridge and BAML on their own behalf from 8 December 2014.
In their defences, Ross, Mugge and Keey deny the accusations and claim that Gallagher was never going to go through with these deals including because the group board had put a $30m [£19.5m] threshold on acquisitions in May 2014.
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