It has been a week of big-ticket cases in disputes land, with property tycoon Vincent Tchenguiz ending his £200m battle with the Serious Fraud Office in a £3m settlement and Shearman & Sterling’s triumph in the Hague in a decade-long battle for Yukos shareholders against the Russian state, winning damages of $50bn and costs of $60bn against Russia.
That hefty sum compares to Shearman & Sterling’s bill, branded “plainly excessive” by the respondents. The firm took home $76.64m over nine years plus £1.1m over nine years of arbitration.
With just days to go before the courts close for summer expect more colossal judgments to be coming this way.
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