The ex-tax chief was in court in connection with expert opinions he gave from 2006-09 endorsing the so-called 'Cum Ex' trading scheme to a client, Maple Bank (now-defunct).
The bank's administrators sued the firm, and Freshfields (or its insurers) paid out EUR50 million to settle the claim. Freshfields also paid a voluntary EUR10 million to the German tax authority in 2021, in a deal to avoid any prosecution over its advice to Maple Bank.
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