Tottenham director says bank gave him negligent advice over £65million investment

19:29 06 December 2012

Sir Keith Mills. File picture: Dominic Lipinski/PA

Sir Keith Mills. File picture: Dominic Lipinski/PA

A director of Tottenham Hotspur says one of the UK’s most famous banks gave him negligent investment advice and is claiming millions in damages.

Businessman Sir Keith Mills, who was also a leading member of the body which staged the London 2012 Games, says he lost out after asking Coutts to advise him on investing £65million five years ago.

A judge today began hearing argument from lawyers representing both sides at a High Court hearing in London.

Sir Keith, who is a non-executive director of Tottenham and was deputy chairman of the London Organising Committee of the Olympic and Paralympic Games (LOCOG), says if he had been “properly advised” he would have chosen “less risky” investment options.

He is asking Mrs Justice Asplin to assess damages at a hearing expected to last several days.

Simon Salzedo QC, for Sir Keith, today told the judge that Coutts had admitted acting “negligently” but damages had not been agreed.

A Coutts spokeswoman said outside court: “We have taken the decision not to dispute the advice provided to Sir Keith Mills in relation to this product.

“However, while we regret that a client matter has ended up in court, we have been unable to agree to Sir Keith Mills’ claim as to the actual loss that he suffered in relation to this product.”

Latest Stories

Yesterday, 18:25
The scene outside the Tesco the following morning. [Photograph by John Hercock]

A 58-year-old man was “tarred and feathered” while he lay intoxicated on a bench outside Tesco in Roneo Corner, Romford.

Read more
Yesterday, 15:01
This Scorpion sub-machine gun was found with a silencer and live ammunition [Photograph from Metropolitan Police]

A sub-machine gun complete with live ammunition has been taken off the streets of London.

Read more
Yesterday, 14:16
Three people were injured when the black cab crashed outside the Old Bailey  (Photo by Oli Scarff/Getty Images)

Three people have been rushed to hospital after a taxi driver crashed into a pedestrian and a cyclist outside the Old Bailey on Tuesday evening.

Read more

Quirky London

Quizzes

Do you fancy yourself as a football ground know-it-all? Try our devilishly difficult quiz!

How well do you know your football stadiums? This brand new quiz from London24 will seperate the men from the boys...

Read more
Do you know your Thames truths from the porkie pies? (Photo by Mike Hewitt/Getty Images)

So, you live (or work) in London, and you think you know the river well.

Read more
Diego Costa of Chelsea exchanges words with Cesc Fabregas (Photo by Chris Brunskill/Getty Images)

Chelsea have made several personnel changes over the course of the summer as they look to mount a squad that can challenge for the title.

Read more