‘Misconceived’ Claims Lipton Rogers Dismissed

A legal claim against Lipton Rogers over a supposed £11 million brokerage payment has been withdrawn. Hamid Alqumairi made the claim, saying he had acted as a middleman for the firm’s 22 Bishopsgate deal.

Alqumairi stated he had been instrumental in negotiating the deal between a Saudi consortium, Lipton Rogers, and French investor AXA, and was owed a fee that had not materialised.

Lipton Rogers said the claim was without foundation, factually inaccurate, and misconceived. The 22 Bishopsgate project was completed in 2020 after previous plans for the site were delayed due to funding issues. Lipton Rogers and AXA took over the development of the stalled tower, then known as the Pinnacle, eight years ago.

In a statement, Lipton Rogers said: “Their illconceived attempts to litigate are now over.”

The London market remains resilient, and through our work in Southwark, and more broadly across the rest of London and the UK, we are building a pipeline with optionality baked in – allowing us to bring products that offer the very best locations, amenities and sustainability credentials forward to the market at the most opportune time. “

Oliver Knight added: “With The Forge nearing completion and progress being made on site at Timber Square, this approval at Red Lion Court will unlock the next stage of the one million sqft green office cluster we are developing in the borough."

IMAGE: Landsec - Red Lion Court delivers a landmark office complex

The statement further revealed that a judge described the claim as a tactic, and the claimant had no serious belief that the judgement would be in their favour. Lipton Rogers has received costs of £175,000.

In response, Hamid Alqumairi said: “Despite this disappointing outcome, it remains the case that I was instrumental in 22 Bishopsgate’s development.”