London’s High Court has made a ruling holding Dechert and the firm’s ex-partner, Neil Gerrard, fully liable for the “unnecessary work” done while representing their former client ERNC. Deliberation during the court proceedings informed that the firm sought to lessen the costs it was accountable for. Nevertheless, Justice Waksman’s verdict was that concerning “unnecessary costs and WMT (wasted management time)”, the Serious Fraud Office (SFO) would have a 25% contribution, leaving Dechert and Gerrard with a 75% contribution.
Furthermore, it was stated in the High Court’s judgement that ENRC is entitled to a significantly larger amount for damages than what has been argued by Dechert and the SFO. For further comprehensive data, read the
original article.