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The High Court refused permission to appeal and made consequential costs orders in a derivative claim, ordering indemnity costs, a stayed interim payment, and partial release of security.
Durnont Enterprises v Fazita Investment Ltd & Ors [2026] EWHC 1224 (Ch) (18 May 2026)
Consequentials hearing in a derivative claim: indemnity costs, joint and several liability, interim payment, security for costs, and permission to appeal.
The claimant's conduct in bringing speculative, weak, and thin claims involving serious dishonesty allegations, coupled with unreasonable litigation conduct and publicity, justified an award of indemnity costs to all defendants. Payments on account set at 70% of updated costs, with specified pre-judgment interest rates for each defendant, and post-judgment interest to run 21 days from order. Permission to appeal refused as having no real prospect of success.
Source excerpt
Post-trial Commercial Court ruling on quantum, currency, interest, costs, and enforcement issues in the Kazakhstan Kagazy fraud litigation.
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