Clive Madder

A law firm has reached a settlement with the lender of a property development in North Melbourne, paying $1 million to resolve claims it was negligent in preparing a loan agreement.

Lloyd’s has won access to letters between Moray & Agnew and an insurer to test its claims that a $3.7 million settlement the law firm agreed to over the sale of apartments at a $105 million South Yarra complex developed by millionaire Harry Stamoulis was excessive and made to protect the firm’s reputation.