ENRC’S legal battle with city veteran Sir Paul Judge took a new turn this week, when the troubled miner produced transcripts it claims prove the former director leaked price-sensitive and confidential information to a journalist.
ENRC, which is due to delist after more than five years on the FTSE 100, sued Judge back in July, accusing him of deliberately leaking confidential information about a board meeting to the media. Judge, who starts as a City of London Sheriff on 27 September, then filed a countersuit against ENRC, accusing the copper producer of libel and demanding damages.
ENRC alleges the transcripts recount Judge telling the journalist “very price-sensitive stuff” surrounding the cancellation of an extraordinary general meeting with shareholders planned for November 2011.
The document also claims that Judge told the journalist about meetings ENRC had with the Serious Fraud Office, saying that the authority was “very tough on the company”.
ENRC confirmed in April that it is under investigation by the SFO.
Berwin Leighton Paisner, acting for Judge, said: “Sir Paul refutes the new allegations completely and will address them in his reply to ENRC’s defence to counterclaim.”