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Betfair co-founder Mark Davies appear in court July 8

Tuesday, May 1,2012 : BETFAIR DUO GET THEIR DAY IN COURT (Update)
 
July 8 set for London High Court case against legal advisers
 
Betfair co-founder Mark Davies and his wife Miranda, in their capacities as trustees of the Giselle Davies Family Trust and the Davies Family Trust, will have their day in court on July 8 in London in a GBP4 million suit against legal firm Speechly Bircham.
 
The claim, filed last August alleges negligence and/or breach of retainer for advice the law firm gave them when they tried to sell Betfair shares in the weeks immediately following Betfair's IPO.
 
The trusts they represent both hold shares in Betfair and claim that losses incurred by following Speechly Bircham's advice ran to around GBP 4.48 million.
 
According to the writ, the couple instructed Speechly private client partner Charles Hutton that they wanted to sell their shares when Betfair went public in October last year, with the intention of selling when shares reached at least GBP13 each.
 
When the company listed on 22 October, shares were trading at GBP 15.50, at which point Davies was told that selling was not possible because the shares had not been registered properly.
 
However, the share prices fell before the difficulties in selling the shares were sorted out, with the price per share standing at GBP 6.08 at the time the claim was issued.
 
"Neither trust has sold the Betfair shares given the loss that each would thereby sustain," the writ complains. "Insofar as may be necessary the claimants will say that the defendant is liable for the totality of the losses sustained because the defendant's breach of retainer/negligence placed the trusts in a position where they were unable to sell at the price that was available."



Gambling News :

Live Dealer Now At Slotocash - Live Dealer can be found in the left navigation menu under 'Live Dealer' when you, the player is logged in to instant play.

Advantages of online slots over slot machines - The rise of online casinos means that players no longer have to leave their own house to play casino games.

Betradar Launches US Sports Betting Solutions - With only a few weeks to go until the betting and gambling world descends on ICE in London, Betradar have today announced that they will be launching a comprehensive range of tools and services to any company that will be looking to provide sports betting in a post-PASPA United States.

Abdelaouhab Zizi Wins MPNPT Morocco Main Event - Abdelaouhab Zizi has defeated fellow Casablanca resident Fadhil Farag heads up to win the 2018 MPN Poker Tour Morocco Main Event and MAD 375,000 (c. €33,220) after a two-way deal.

Final 12 For MPNPT Morocco - Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).

MPNPT Morocco Updates - Leading the 104 combined survivors from both flights is still Said El-Yousfi with 272,000 chips; visit the MPN Poker Tour blog for an end-of-day recap and full chip counts.

MPN Poker Tour Morocco Day 1A - The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.

2018 MPN Poker Classic - The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.

PDC and Sportradar Renew Deal - Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data

Poker Yaar Joins MPN - Available through download, instant play and mobile, Pokeryaar.com is live with Omaha, Hold’em and Five-Card poker variants, alongside MPN’s Fish Party, the industry’s only progressive jackpot SNGs.

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