Dechert has agreed to pay the Eurasian Natural Resources Corporation (ENRC) £225,000 after both sides reached an agreement regarding document disclosure on their long-running dispute last week.

A London Commercial Court hearing, which was meant to start on Thursday and end on Friday, did not take place as Dechert and its white-collar crime head Neil Gerrard agreed to search for and disclose documents the ENRC claims are relevant to its civil claim against the firm and Gerrard.

As part of that agreement, Dechert also said it would pay £225,000 of the ENRC's costs in relation to the ENRC's application for disclosure of documents, according to people close to the matter. Dechert itself had brought an application for disclosure against the ENRC in March but nine out of 11 claims were thrown out in Court.