Insurer fails in Russell McVeagh bloodstock probe saga

A lawyer/insurer costs battle which followed a top-level probe into law firm Russell McVeagh's failed 1980s bloodstock syndicates has confirmed a big-dollar payout to the Auckland District Law Society.In a just-released judgment the Court of Appeal said insurer D A Constable Syndicate 386 – a Lloyd's syndicate – was liable for $1,507,810 costs clocked-up by the Auckland district law society (ADLS) in its relentless but unsuccessful fight with Russell McVeagh over an investigation into the failed bloodstock syndicates.

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