A Manchester-based firm whose clients include Premier League and Championship football clubs has reached a settlement over a £1m debt dispute after a judge dismissed an application to stop a winding up petition being advertised.
IPS Law LLP reached a settlement with Safe Harbour Equity Distressed Debt Fund which includes a request that the notice of the winding up petition be withdrawn and not published.
The firm had been engaged to act for Global Sports Data and Technology Ltd in relation to proposed claims over the alleged misuse of professional athletes’ personal data. IPS was given authority to negotiate with funders on the company’s behalf to search for funding to pursue the claims, known as Project Red Card.
The firm contested Safe Harbour’s right to seek a winding up order. The application was dismissed. The judgment acknowledged ‘no litigation in relation to the personal data claims has yet been brought’.
The firm told the Gazette it has honoured the ‘£1m debt’ but is considering separate action against Global Sports Data and Technology Limited to recover the settlement sum.
Founding partner Chris Farnell, who has represented former world heavyweight champion Tyson Fury and acted on behalf of footballer Cristiano Ronaldo, said: ‘As an established firm, honouring our own well-earned reputation for doing right by our clients is the most important thing.’
