London’s High Court has recently declared Dechert and former partner Neil Gerrard “100% responsible” for the superfluous workload while representing their previous client, Eurasian Natural Resources Corporation (ENRC).
Justice Waksman, presiding over the case, disclosed during the hearing that Dechert and Gerrard had sought to lessen the costs they were accountable for. However, as it pertains to the responsibility for unneeded expenses and wasted management time (WMT), the judge ruled that 75% should be shouldered by Dechert and Gerrard, while the Serious Fraud Office would contribute the remaining 25%.
In terms of damages owed to ENRC, the High Court ruled that the company is entitled to a substantial amount, far more than what was previously contended by Dechert and the Serious Fraud Office.
For more detailed information on the ruling, consult the original report by Law.com.