Solicitors Disciplinary Tribunal Orders Over £300,000 Of Costs Against Banned Solicitor

The Solicitors Disciplinary Tribunal has handed down one of its largest costs bills against ex–city lawyer Maitland Hudson. Hudson, who has already been struck off from the roll of solicitors, was ordered to pay £300,000 in costs plus a further £57,720  after being found liable for dishonesty on multiple counts.

The SDT described Hudson’s acts as  “elaborate concealment and dishonesty” with many of the proven allegations centring around his dealings with Australian businessman Steven Cosser – a former TV mogul with mining interests in Africa.  In one instance, Hudson had agreed loans totalling hundreds of thousands of pounds on terms that were advantageous to  Elite Partners Limited (“EPL”), a British Virgin Island-incorporated company in which Hudson had a beneficial interest and was described as being its ‘alter-ego’. There was also a “deed of sale” agreed between Cosser and EPL,  where in return for lending £5,000, EPL received assets potentially worth millions. These assets included Cosser’s two offshore companies, his shares in a Sierra Leone mining company and his property in London’s Belgravia. 

Cosser also agreed to pay Hudson £500,000 in a settlement agreement described by the SDT as ‘outrageous and ‘egregious’.  As well as his dealings with Cosser, Hudson was found liable for his actions in a US case revolving around the control of the Ukraine TV station, TVi.  The SDT agreed with the SRA’s finding that Hudson had helped to  ‘plan and cause dilution and trademarks transfer’ from one company to another.

The full allegations and detailed outcome are set out in a 122 page judgment published last week.

Shah Qureshi, Head of Irwin Mitchell’s Employment and Professional Discipline team in London, said:

Expert Opinion

“Although this is an extreme case it should act as a cautionary tale to solicitors and other regulated professionals of the need to fulfil their regulatory obligations. The level of compliance required is usually over and above that of other types of employee.” Shah Qureshi - Partner