Herbies faces fees cut after Talco case settles
One of the most expensive cases in British legal history - the epic Talco battle in which Herbert Smith advised the Republic of Tajikistan in a dispute with a group of aluminium traders - has settled midway through trial. The settlement, which comes just four weeks into an 18-week trial, means Herbert Smith's fees - expected to hit $100m (£65m) - are likely to be reduced.The firm fielded a team led by disputes partner Simon Bushell, with the estimated total fees also including costs for counsel - Herbert Smith in-house advocate Murray Rosen QC and One Essex Court's Neil Kitchener QC.
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