The claim against the firm suggests that the lawyers could have done more to prevent Heinrich Maria Schulte, the ex-head of Wolbern Invest, from allegedly embezzling assets. As well as suing Bird & Bird, the 30 funds are making a claim against a corporate counsel at the firm, Ole Bruhl, and two former partners, Frank Moerchen and Thomas Demmel. Mr Schulte denies the charges he faces and is pointing the finger towards his legal advisers as having played a crucial role in the way that certain assets were moved. Bird & Bird said: 'We see no basis for this claim. Accordingly we will defend it with all legal measures available to us and will completely refute the assertions it contains. Bird & Bird acted lawfully in the provision of advice to the Wolbern Group and at no time legitimised illegal acts.' Source: The Lawyer