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Home News Crime & Courts

Aberdeen oil boss has £155million lawsuit alleging legal conspiracy dismissed

By Allister Thomas
Bob Kidd, who founded ITS Tubular Services.
Bob Kidd, who founded ITS Tubular Services. Image: Raymond Besant/DC Thomson

An Aberdeen oil boss who alleges several firms conspired against him has had his £150million legal battle dismissed.

Bob Kidd founded ITS Tubular Services (ITS) in 1989, but it went into administration in 2013.

He claims a conflict of interest between those acting for him resulted in the collapse of his business and the value of his shares becoming “worthless”.

In a landmark victory in 2018, Mr Kidd settled his case against Burness Paull for £20million over their handling of the sale of ITS.

He then continued his action, this time focusing on private equity group Lime Rock and Ledingham Chalmers. He was seeking $210million (£155million) damages for the lost value of his ITS shares.

But the case has been dismissed by the Court of Session. For the full story, visit Energy Voice.