Addleshaw Goddard has settled a dispute over £12.6m in unpaid legal fees with the trustees of the estate of deceased Russian oligarch and former client Boris Berezovsky.
In April this year, costs judge Master Campbell ordered the trustees to pay fees relating to litigation by the oligarch in a $6.5bn dispute with Russian aluminium tycoon Vasily Anisimov, the estate of businessman Arkadi Patarkatsishvili and other parties.
The trustees, Nicholas Wood and Kevin Hellard from Grant Thornton, had refused to pay as they said the estate was insolvent and that the fees would rank as unsecured debt.
They also argued that the contentious business agreement Berezovsky (pictured) had signed was void, as the terms were insufficiently certain and because Berezovsky had not fully understood them.
But Campbell ruled that the fees should be enforced because Berezovsky was an experienced businessman who aware of the nature of the agreement, on which he had taken advice before signing.
An appeal against the judgment by the trustees was due to be heard in the Chancery Division of the High Court last week. But the case has now settled, bringing an end to the 15-month dispute.
Addleshaw Goddard said in a statement: ‘The parties are pleased to announce that the proceedings have been brought to an end. The terms of the settlement agreement are confidential and no further comment will be made.’