Dechert Agrees To Pay ENRC £20M, Hit With Indemnity Costs

By Richard Crump (August 3, 2022, 5:18 PM BST) -- Dechert has agreed to make a £20 million ($24.4 million) interim payment to ENRC following a damning court ruling over its work for the Kazakh miner, but faces an inflated legal bill after its former client was awarded indemnity costs on Wednesday.

Judge Waksman ordered Dechert LLP at the High Court to pay £38 million in costs to Eurasian Natural Resources Corp. on an indemnity basis. ( Judge David Waksman ordered Dechert LLP to pay Eurasian Natural Resources Corp.'s £38 million in costs on an indemnity basis — granted when the conduct of a losing side is deemed unreasonable — because...

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