The Eurasian National Resources Corp (ENRC) has ended its client relationship with Debevoise & Plimpton in a landmark criminal investigation undertaken by the Serious Fraud Office (SFO). The mining behemoth has hired the firm’s rival Quinn Emanuel Urquhart & Sullivan in the ongoing criminal investigation into the ENRC’s alleged fraud, bribery and corruption around the acquisition of substantial mineral assets.
According to a report last week in Legal Business, the ENRC remarked: ‘We have worked closely with Debevoise & Plimpton for a number of years in responding to inquiries from the SFO. Lord Goldsmith and his team have provided consistently excellent advice and representation.’
‘They have been highly impressive in their handling of what has become a wide-ranging and complex matter. We have benefitted hugely from their wise guidance in navigating the range of difficult criminal and civil considerations that have arisen throughout the course of this investigation. For a number of strategic reasons, ENRC and Debevoise have decided the time is right to conclude this working relationship. We will now be working with Quinn to plot a course forward.’
Last week the SFO won special government funding to pursue its investigation into the Kazakhstan-based miner, where the Treasury gave the cash-strapped watchdog extra funding for the probe.