Courts hot up with bumper billionaire judgments

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.

Talking of hefty sums, Sebastian Holdings has just been ordered to hand over $250m to Deutsche Bank in a Court of Appeal judgment, or face having its appeal thrown out.

With just days to go before the courts close for summer expect more colossal judgments to be coming this way. 

Also on

Featured Briefings
Media – Kemp Little: Court of Appeal clarifies Mitchell guidance on relief from sanctions — a welcomed departure from the hardline approach to procedure  
IT – DLA Piper: The Google tornado: just how ground-breaking is the ‘right to be forgotten’  
Employment – Shoosmiths: Beware of unintentionally creating the right to a pay increase  
Real estate – Walker Morris: Breaking up is hard to do — Friends Life v Siemens Hearing Instruments  
Employment – Winckworth Sherwood: Confidential information: inspection of ex-employee’s computers