The SFO confirmed on Tuesday that the lawsuit at London’s Excessive Courtroom had been settled, saying: “All through this case we robustly defended the claims. A confidential settlement has now been agreed.”
An ENRC spokesperson mentioned: “ENRC is happy to report {that a} confidential settlement has been reached on the phrases set out within the consent order.”
Confidential settlements are widespread in such instances.
Marketing campaign group Highlight on Corruption mentioned the actual fact the settlement was confidential was “deeply troubling given the general public curiosity in scrutinizing one of many SFO’s longest-running and most controversial instances”.
ENRC’s case towards the SFO over alleged leaks was simply one among a number of items of litigation arising out of the SFO’s investigation.
The SFO final yr dropped with out prices the probe it started in 2013 into alleged bribery by ENRC to safe mining contracts within the Democratic Republic of Congo between 2009 and 2012.
ENRC individually sued the SFO and its former attorneys, which led to the Excessive Courtroom ruling in December that ENRC was entitled to thousands and thousands of kilos in damages.
The Excessive Courtroom discovered the SFO wouldn’t have launched the probe if the company had not first induced ENRC’s former lawyer to behave towards its pursuits. The SFO has additionally been refused permission to attraction towards that ruling.
ENRC had provisionally prompt it was looking for practically $1 billion for losses it mentioned have been attributable to the probe, which would be the topic of one other trial, in 2025 or early 2026.
The corporate mentioned in court docket filings made public final month that it had “taken a conservative strategy” and was looking for roughly $300 million. The SFO is combating that case.
A spokesperson for ENRC’s former attorneys Dechert mentioned: “The agency was not a celebration to the declare and it could be inappropriate to remark.”
(By Sam Tobin; Enhancing by Hugh Lawson)