Clifford Chance (CC) has reached a settlement with funders of the high-profile Excalibur Ventures litigation case, who brought a professional negligence claim against the firm last year.
Excalibur hired CC to act for it on a $1.6bn (£1bn) claim against Texas Keystone and Gulf Keystone over petroleum interests in Iraqi Kurdistan. The claim was dismissed in 2013, with Lord Justice Christopher Clarke awarding the defendants costs in October 2014, making four groups of third-party funders collectively liable for over £23m.
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