Excalibur judgment leaves dispute funders with £20m bill

In November the long-running Excalibur litigation came to a head as London’s Court of Appeal (CoA) found the third-party funders who bankrolled the case liable for the successful defendants’ £20m indemnity costs.

The dispute stems from the original litigation in 2013, a $1.6bn energy battle brought by Excalibur Ventures against Gulf Keystone Petroleum and Texas Keystone where it was alleged it was entitled to a 30% share in the rights of four oil fields in Kurdistan.