An Aberdeen oil boss who alleges several firms conspired against him has had his £150million legal battle dismissed.
Bob Kidd founded ITS Tubular Services (ITS) in 1989, but it went into administration in 2013.
He claims a conflict of interest between those acting for him resulted in the collapse of his business and the value of his shares becoming “worthless”.
In a landmark victory in 2018, Mr Kidd settled his case against Burness Paull for £20million over their handling of the sale of ITS.
He then continued his action, this time focusing on private equity group Lime Rock and Ledingham Chalmers. He was seeking $210million (£155million) damages for the lost value of his ITS shares.
But the case has been dismissed by the Court of Session. For the full story, visit Energy Voice.