Natixis S.A. v Marex Financial Ltd & Anor

Natixis S.A. v Marex Financial Ltd & Anor

Where a claimant sues multiple defendants at the instigation of one, and the claim is parasitical, joint and several liability for costs is appropriate. Damages for contributory negligence must be calculated by reducing total loss by the negligence percentage, then applying the contractual cap. Indemnity costs are justified for failed fraud claims pursued to trial and withdrawn only at the end. Issue-based costs orders are preferable to percentage-based orders where the overlap and success/failure of claims are complex. Interest on costs should be set at 2% above Base.

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 Claim / Post Judgment Ancillary Hearing
Outcome
Orders on costs, damages, and interest issued.
Legal Topics
Costs, Contributory Negligence, Limitation of Liability, Fraud Pleading, Damages, Interest
Commercial Law Tort Law Civil Procedure Costs Contributory Negligence Limitation of Liability Fraud Pleading Damages +1 more

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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 Claim / Post Judgment 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

Where a claimant sues multiple defendants at the instigation of one, and the claim is parasitical, joint and several liability for costs is appropriate. Damages for contributory negligence must be calculated by reducing total loss by the negligence percentage, then applying the contractual cap. Indemnity costs are justified for failed fraud claims pursued to trial and withdrawn only at the end. Issue-based costs orders are preferable to percentage-based orders where the overlap and success/failure of claims are complex. Interest on costs should be set at 2% above Base.

Court Disposition

Orders on costs, damages, and interest issued.

Orders

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