Rowley: Defendants failed to act with sufficient promptness
A costs judge has upheld a default costs certificate (DCC) on a $3.7m bill after the paying party’s solicitors did not show any sense of urgency in dealing with it.
As a result, the London office of US firm King & Spalding (KS) failed to serve draft points of dispute for the hearing to set it aside.
National Bank of Kazakhstan & Another v The Bank of New York Mellon & Ors made headlines at the start of the first lockdown last year as the first fully virtual trial in the Commercial Court.
In the wake of the ruling, London firm Stewarts for the claimants commenced detailed assessment proceedings on 15 December 2020, for a bill totalling $3.7m.