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.
- Premium Credit explains taking system offline
- MMC confirms up to 3,750 jobs in danger from JLT takeover
- MMC boss Dan Glaser lifts the lid on the 11 day JLT deal
- Ex broker jailed for £140,000 fraud
- Gallagher and Ardonagh in legal dispute
- Broker named on FSCS insolvency list
- Brokers see opportunity in MMC’s JLT takeover