MacInnes v Gross [2017] EWHC 127 (QB) (03 February 2017)

MacInnes v Gross [2017] EWHC 127 (QB) (03 February 2017)

The case was not 'out of the norm'; costs to be assessed on the standard basis. Pre-judgment interest on costs awarded at 4% above base. Post-judgment interest at 8% deferred for three months. No compensation for currency fluctuations. Interim payment on account of costs set at £528,000 based on the approved costs budget with adjustments.

Citation
[2017] EWHC 127
Parties
Claimant: Bruce MacInnes; First Defendant: Hans Thomas Gross
Jurisdiction
England and Wales
Judgment Date
03 February 2017
Procedural Posture
Civil / Post Judgment: Costs and Consequential Matters
Outcome
Costs awarded to the first defendant on the standard basis; interim payment ordered; no compensation for currency fluctuations.
Legal Topics
Costs, Indemnity Costs, Standard Basis Costs, Interest on Costs, Interim Payment on Account of Costs, Currency Fluctuations
Civil Procedure Costs Indemnity Costs Standard Basis Costs Interest on Costs Interim Payment on Account of Costs Currency Fluctuations

Case Brief

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Parties

Bruce MacInnes

Claimant

Hans Thomas Gross

First Defendant

Procedural Posture

Civil / Post Judgment: Costs and Consequential Matters

Legal Issues

  1. 1 Whether costs should be awarded on an indemnity or standard basis
  2. 2 Appropriate rate and timing for interest on costs
  3. 3 Entitlement to compensation for currency fluctuations on costs

Ratio Decidendi

The case was not 'out of the norm'; costs to be assessed on the standard basis. Pre-judgment interest on costs awarded at 4% above base. Post-judgment interest at 8% deferred for three months. No compensation for currency fluctuations. Interim payment on account of costs set at £528,000 based on the approved costs budget with adjustments.

Court Disposition

Costs awarded to the first defendant on the standard basis; interim payment ordered; no compensation for currency fluctuations.

Orders

  • Claimant to pay first defendant's costs on the standard basis.
  • Interest on costs at 4% above base rate until judgment.