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Judge upholds $3 7m default costs certificate after delayed reaction

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.

Solicitors Journal - Litigation firms expected to have links with costs lawyers

Litigation firms ‘expected’ to have links with costs lawyers A Senior Courts Costs Office decision has emphasised that firms should employ costs lawyers or risk paying a heavy financial price.  The Association of Costs Lawyers (ACL) said a recent case should act as a warning to firms of the risk of failing to employ costs lawyers or having arrangements with external costs lawyers – “or at the very least not instructing them quickly when an issue arises”.  The failure of the paying parties in National Bank of Kazakhstan & Another v The Bank of New York Mellon & Ors to instruct costs lawyers promptly after the claimants successfully applied for a default costs certificate (DCC) meant no draft points of dispute were submitted to the court for the application to set aside the DCC.

Government presents plan for social and economic development of North Kazakhstan region through 2025

Government presents plan for social and economic development of North Kazakhstan region through 2025
eureporter.co - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from eureporter.co Daily Mail and Mail on Sunday newspapers.

President Tokayev speaks on behalf of landlocked countries at high-level meeting on international debt architecture and liquidity

President Tokayev speaks on behalf of landlocked countries at high-level meeting on international debt architecture and liquidity
eureporter.co - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from eureporter.co Daily Mail and Mail on Sunday newspapers.

$3 7 million sanction upheld against Moldovan businessmen in UK court battle with Kazakhstan and National Bank of Kazakhstan

An English High Court decision has dealt a decisive blow to Moldovan businessmen Anatolie and Gabriel Stati. Previously, a different judge in the same court said there was evidence the businessmen won an arbitration through fraud. The English High Court ordered, on Thursday 11 March, the Stati business group to pay the Republic of Kazakhstan […]

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