Dechert settles UK dispute with Azima
By Law News
International law firm Dechert LLP has reached a settlement up to £3 million plus reasonable costs in the UK portion of its contentious dispute with Farhad Azima
The substantial payment, while addressing Mr. Azima's limited claim in the UK, does not mark the end of the legal saga. Azima is determined to pursue substantial claims against Dechert and others in the United States, based on their alleged misconduct against him and the resulting damages. According to a spokesperson for Farhad Azima, Dechert and its partners are accused of playing a significant role in hacking Azima and others.
Statement on behalf of Dechert LLP: “The Dechert parties and Mr Azima have agreed terms without any admission of liability in order to bring about a commercial resolution to the proceedings brought by Mr Azima in the English High Court.”
The pending U.S. case involves Dechert and co-conspirators, including New York-based lawyer Amir Handjani, accused of executing a written plan to commit various illegal acts against Azima following the initial hacking. The allegations include obstructing multiple U.S. proceedings, witness tampering, money laundering, and wire fraud. This case aims to bring justice for what is described as a Dechert-led, years-long operation to ruin Azima's business and reputation in the U.S.
Azima is actively pursuing Racketeer Influenced and Corrupt Organizations (RICO) claims in the U.S. against Dechert and co-conspirators, which includes investigator and alleged hacker Nicholas Del Rosso. Simultaneously, he continues his hacking counterclaim in English courts against James Buchanan, a former executive of Ras al Khaimah entities.
The Ras Al Khaimah Investment Authority (RAKIA), a sovereign wealth fund of RAK, fled the English jurisdiction in June 2022. On August 21, 2023, its defense to Azima's counterclaim was struck out, with summary judgment entered against it. RAKIA is currently in default of an £8.5 million costs order in favor of Mr. Azima.
As the legal battles unfold on multiple fronts, the settlement in the UK provides a glimpse into the complexity and magnitude of the disputes surrounding Dechert and its alleged involvement in actions against Farhad Azima.
Photo By Phil6007 - Own work, CC BY-SA 4.0, https://commons.wikimedia.org/w/index.php?curid=68459343