Dechert could end up paying liabilities of up to £3 million if the SFO loses in its dispute against the ENRC – but nothing more, the firm has claimed.

In their London High Court defence to an additional claim brought by the defendant in the case, the Serious Fraud Office (SFO), Dechert and its global co-head of white collar, partner Neil Gerrard, assert that the firm’s maximum liability to both the ENRC and the SFO was by agreement capped at a total £3 million. The document states this is “to be applied to the aggregate of Dechert’s liability for such damages”.