‘Misconceived’ Claims Lipton Rogers Dismissed

4/6/23

A legal claim against Lipton Rogers over a supposed £11 million brokerage payment has been withdrawn.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 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."