London - A highly respected commercial lawyer has been drafted in by a group set up to sue Tesco over last year's accounting scandal in what could turn into a multi-billion-pound lawsuit.
Philip Marshall QC represented Paddy McKillen in his epic battle with the Barclay brothers over ownership of the Claridge's, Connaught and Berkeley hotels, grilled Bernie Ecclestone in the High Court for three days over the sale of the Formula One business to CVC and fought for the largest group of fraud actions ever to be brought in the High Court against Kazakhstan's BTA Bank.
He will advise the various institutional investors who have been signed up by the Tesco Shareholder Claims (TSC) group and a formal claim is expected to be filed later this year.
The revelation is another blow to Tesco, which is under intense scrutiny and investigations by the Serious Fraud Office, the Groceries Code Adjudicator and the Financial Reporting Council.
Last month its chief executive Dave Lewis dumped the company's auditor of 32 years, PwC, for failing to spot the accounting scandal that saw the supermarket's commercial division notching up profits from supplier payments before those payments had been received.