Robert Tchenguiz drops lawsuit against Grant Thornton at last minute

Robert Tchenguiz has withdrawn a multimillion-pound lawsuit against Grant Thornton just hours before he was due to give evidence and after reaching a settlement with Kaupthing Bank.

The flamboyant property entrepreneur said that, after reaching a commercial arrangement with the failed Icelandic bank with which he has been mired in litigation since the financial crisis, he would withdraw all claims that the accountancy firm had helped to orchestrate a criminal investigation into him by the Serious Fraud Office (SFO).

Tchenguiz, 58, had accused Grant Thornton, two of its partners, and Johannes Johannsson, an Icelandic lawyer who worked for Kaupthing, of conspiring to provide misinformation about him in order to encourage the SFO to open an investigation into his affairs. All the defendants denied the claims.

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