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CC escapes £130m German negligence claim
JP Morgan and German transport organisation BVG have settled their legal dispute, with the side effect that Clifford Chance no longer faces a related negligence claim.
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BVG had been sued by JP Morgan for allegedly increasing exposure to risk through a derivatives deal. BVG then joined Clifford Chance in the action, claiming that its German arm had given negligent advice on the derivatives purchase. Clifford Chance had denied the allegations. Source: The Lawyer
