A settlement has been agreed between the Serious Fraud Office and mining giant Eurasian Natural Resources Corporation at the start of the trial over the SFO’s now-dropped investigation into the Kazakh mining company.

The trial was due to start yesterday and was listed for seven weeks before Mr Justice Bryan sitting in the Rolls Building.

The trial would have dealt with claims against the SFO, former SFO officer John Gibson and SFO investigator Tony Puddick for alleged breaches of confidence, misfeasance in public office and unlawful means conspiracy over sensitive information about the office’s investigation into the ENRC being leaked to media and third parties.

The case forms part of ENRC’s ongoing legal proceedings against various parties in relation to the SFO’s decade-long investigation into the mining company over suspected bribes paid to secure access to mining contracts. The investigation was closed in August 2023 due to ‘insufficient admissible evidence to prosecute’ and the case dropped.

Mr Justice Bryan adjourned the trial start yesterday after parties indicated they were close to an agreement and a further 24 hours would be helpful. This morning (Tuesday 8 October), after a short delay, Anna Boase KC for ENRC, told the court: ‘We have agreement.’

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A Tomlin Order, which will stay proceedings on agreed terms but allow parties to apply to the court to lift the stay or enforce the terms in the event of non-compliance, is in place between all parties involved in the case – the ENRC, the SFO, Gibson and Puddick.

A confidential schedule will state out the terms agreed between the parties.

The settlement, of which its details have not been disclosed, brings an end to this part of ENRC’s High Court battle against the SFO.

The SFO still faces an upcoming trial, which has not yet been listed, to deal with how much it owes ENRC following Mr Justice Waksman’s judgment in December 2023. That judgment dealt with causation and loss claimed by ENRC for unnecessary work, costs, and wasted management time. An earlier trial, which took place in 2021, was concerned with liability.

Against the SFO, ENRC claimed £10.6m in unnecessary fees, £8.8m in unnecessary costs and more than £214,000 in wasted management time. In the 2023 judgment, the SFO was apportioned 25% liability for the relevant damage in unnecessary costs and wasted time management and was not found liable for the unnecessary work.

An SFO spokesperson said: ‘Throughout this case we robustly defended the claims. A confidential settlement has now been agreed.’