Galapagos Bidco SARL v Kebekus& Ors [2023] EWHC 2348 (Ch) (22 September 2023)

Galapagos Bidco SARL v Kebekus& Ors [2023] EWHC 2348 (Ch) (22 September 2023)

Bidco and GLAS Defendants are entitled to 80% of their costs against Signal, subject to a 20% reduction for discrete issues, with payments on account ordered at 45% of 80% of claimed amounts. Dr Kebekus is liable for 8% of Bidco's costs for issues on which he was unsuccessful. Interest on costs awarded at 1% over base, with statutory interest postponed for three months on disputed balance. Permission to appeal refused as grounds lack real prospect of success.

Citation
[2023] EWHC 2348 (Ch)
Parties
Claimant: Galapagos Bidco S. A. R. L; First Defendant: Dr Frank Kebekus; Second Defendant: GLAS Trust Corporation Limited; Third Defendant: Global Loan Agency Services Limited; Fourth Defendant: Global Loan Agency Services Limited; Fifth Defendant: GLAS Trustees Limited; Sixth Defendant: Deutsche Trustee Company Limited; Seventh Defendant: Signal Credit Opportunities (Lux) Investco II S. A. R. L; Eighth Defendant: Galapagos S. A
Jurisdiction
England and Wales
Judgment Date
22 September 2023
Procedural Posture
Costs Judgment Following Trial of Declaratory Relief and Counterclaim / Post Trial, Costs Determination
Outcome
Costs judgment; partial costs awarded; permission to appeal refused
Legal Topics
Costs, Declaratory Relief, Restructuring, Interest on Costs, Payment on Account, Permission to Appeal
Civil Procedure Insolvency Commercial Law Costs Declaratory Relief Restructuring Interest on Costs Payment on Account +1 more

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Parties

Galapagos Bidco S. A. R. L

Claimant

Dr Frank Kebekus

First Defendant

GLAS Trust Corporation Limited

Second Defendant

Global Loan Agency Services Limited

Third Defendant

Global Loan Agency Services Limited

Fourth Defendant

GLAS Trustees Limited

Fifth Defendant

Deutsche Trustee Company Limited

Sixth Defendant

Signal Credit Opportunities (Lux) Investco II S. A. R. L

Seventh Defendant

Galapagos S. A

Eighth Defendant

Procedural Posture

Costs Judgment Following Trial of Declaratory Relief and Counterclaim / Post Trial, Costs Determination

Legal Issues

  1. 1 Entitlement to costs following partial success in declaratory relief proceedings
  2. 2 Issue-based costs orders for discrete issues
  3. 3 Payment on account of costs

Ratio Decidendi

Bidco and GLAS Defendants are entitled to 80% of their costs against Signal, subject to a 20% reduction for discrete issues, with payments on account ordered at 45% of 80% of claimed amounts. Dr Kebekus is liable for 8% of Bidco's costs for issues on which he was unsuccessful. Interest on costs awarded at 1% over base, with statutory interest postponed for three months on disputed balance. Permission to appeal refused as grounds lack real prospect of success.

Court Disposition

Costs judgment; partial costs awarded; permission to appeal refused

Orders

  • Signal to pay Bidco 80% of its costs, subject to detailed assessment if not agreed
  • Signal to pay GLAS Defendants 80% of their costs, subject to detailed assessment if not agreed