Natixis S.A. v Marex Financial Ltd & Anor [2019] EWHC 3163 (Comm) (08 November 2019)

Natixis S.A. v Marex Financial Ltd & Anor [2019] EWHC 3163 (Comm) (08 November 2019)

Damages for Marex against Access World are calculated as total loss per warehouse receipt, reduced by 25% for contributory negligence, then subject to €100,000 cap per receipt. Costs for Access World's defence of Natixis' claim are joint and several liability of Natixis and Marex. Marex's fraud claim costs are awarded on indemnity basis. Marex entitled to costs up to 18 December for successful negligence claims; Access World entitled to costs thereafter, with fraud claim costs on indemnity basis. Interest awarded at 2% above Base.

Citation
[2019] EWHC 3163 (Comm)
Parties
Claimant: Natixis S.A.; First Defendant/part 20 Claimant: Marex Financial Limited; Second Defendant/part 20 Defendant: Access World Logistics (Singapore) Pte Ltd
Jurisdiction
England and Wales
Judgment Date
08 November 2019
Procedural Posture
Commercial Court Judgment / Post Trial Ancillary Hearing
Outcome
Orders made on costs, damages, and interest; sums payable within 14 days.
Legal Topics
Contributory Negligence, Limitation of Liability, Costs Orders, Fraud Pleading, Interest on Judgment
Commercial Law Tort Law Costs Contributory Negligence Limitation of Liability Costs Orders Fraud Pleading Interest on Judgment

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Parties

Natixis S.A.

Claimant

Marex Financial Limited

First Defendant/part 20 Claimant

Access World Logistics (Singapore) Pte Ltd

Second Defendant/part 20 Defendant

Procedural Posture

Commercial Court Judgment / Post Trial Ancillary Hearing

Legal Issues

  1. 1 Appropriate costs order between co-defendants
  2. 2 Calculation of damages with limitation and contributory negligence
  3. 3 Basis for indemnity costs in failed fraud claim

Ratio Decidendi

Damages for Marex against Access World are calculated as total loss per warehouse receipt, reduced by 25% for contributory negligence, then subject to €100,000 cap per receipt. Costs for Access World's defence of Natixis' claim are joint and several liability of Natixis and Marex. Marex's fraud claim costs are awarded on indemnity basis. Marex entitled to costs up to 18 December for successful negligence claims; Access World entitled to costs thereafter, with fraud claim costs on indemnity basis. Interest awarded at 2% above Base.

Court Disposition

Orders made on costs, damages, and interest; sums payable within 14 days.

Orders

  • Marex and Natixis jointly and severally liable for Access World's costs of Natixis' claim.
  • Damages to Marex calculated as total loss less 25% contributory negligence, then capped at €100,000 per receipt.