Ioannis Alexopoulos, a partner at Signature Litigation, a law firm acting for ECU, says a consequential hearing is expected to be held shortly to determine the exact cost of the searches to be carried out by HSBC and what the bank is expected to provide, and by when. ECU stated in its pre-disclosure application that it is ready to bear the substantial portion of the costs related to the searches. “The judge will expect the two parties to negotiate and [broadly] agree on costs before the hearing,” says Alexopoulos. “The judge will then issue an order, clearly outlining what is expected from each party and which documents are to be provided.”
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