Sports Direct wins high court claim
loading...
Retailer Sports Direct claimed a multi million pound victory at the high court last week over shares in rivals.
The legal dispute centered on the amount Sports Direct had to pay the liquidators for Kaupthing Singer & Friedlander (KSF) for shares it bought in rivals Blacks Leisure and JD Sports Fashion - the British subsidiary of the Icelandic bank - before the bank collapsed in 2008. The high court ruled that it had successfully bought the shares before KSF went into administration.
The retailer drew the attention of the competition watchdog last year for failing to find a buyer for stores it had acquired from JJB Sports and according to recent reports, the Office of Fair Trading is now investigating Sports Direct’s stake in Blacks Leisure.