This ruling enables ENRC to reinstate a further US$128 million in damages stemming from its subsidiaries’ increased borrowing costs following the SFO investigation. In 2023, the High Court found that the investigation was unlawfully triggered by serious misconduct and bad faith on the part of both Dechert and senior SFO officials.
Dmitry Vozianov, the head of legal strategy for ENRC on its claims against Dechert and the SFO, commented:
“ENRC welcomes the Court of Appeal’s ruling, which allowed us to reinstate a significant portion of ENRC’s claims. The company’s total claim is now over $290 million. This is a fair result given the real impact of the serious wrongdoing by Dechert and the SFO on a large international mining company, which was significantly restricted in its business activities for more than a decade.”
Case numbers: CL-2017-000583 and CL-2019-000644.
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Article originally published on www.einpresswire.com as ENRC can add $128m to claim against SFO, Dechert