Andersen ruling creates opportunities

Nick Huber

Nick Huber

Andersen Consulting is expected to invest billions of pounds into IT consultancy and recruit more UK staff after winning its legal dispute with Arthur Andersen.

The ruling by an arbitrator for the International Chamber of Commerce (ICC) ruled that Andersen Consulting can split from Arthur Andersen and Andersen Worldwide without having to pay $14.5bn (£9bn)to Arthur Andersen.

The verdict ends a two-and-a-half-year divorce battle and means that Andersen Consulting will no longer have to pay hundreds of millions of pounds in contractual transfer fees to its former sibling company.

Andersen will now be free to forge joint ventures with heavyweight audit clients of Arthur Andersen such as SAP and Oracle.

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