Galapagos Bidco SARL v Dr Frank Kebekus & Ors

Galapagos Bidco SARL v Dr Frank Kebekus & Ors

The court applied the general rule that the unsuccessful party pays the successful party's costs, with a 20% reduction to reflect a discrete issue on which Bidco was unsuccessful but not unreasonable. Signal is to pay 80% of Bidco's and the GLAS Defendants' costs, subject to detailed assessment. Dr Kebekus is to pay 8% of Bidco's costs, reflecting his limited unsuccessful participation. Payments on account are ordered at 45% of 80% of claimed costs. Interest is awarded at 1% over base, with statutory interest on the balance postponed for three months. Permission to appeal is refused.

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
11 October 2024
Procedural Posture
Civil (costs Judgment) / Post Trial Costs Determination
Outcome
Costs judgment: Signal to pay 80% of Bidco's and GLAS Defendants' costs; Dr Kebekus to pay 8% of Bidco's costs; payments on account ordered; interest awarded; permission to appeal refused.
Legal Topics
Costs, Declaratory Relief, Restructuring, Interest on Costs, Issue Based Costs Orders
Civil Procedure Insolvency Commercial Law Costs Declaratory Relief Restructuring Interest on Costs Issue Based Costs Orders

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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

Civil (costs Judgment) / Post Trial Costs Determination

Legal Issues

  1. 1 Whether the general rule that the unsuccessful party pays costs should apply
  2. 2 Whether issue-based costs orders are justified due to discrete issues
  3. 3 Whether payments on account of costs should be ordered and at what level

Ratio Decidendi

The court applied the general rule that the unsuccessful party pays the successful party's costs, with a 20% reduction to reflect a discrete issue on which Bidco was unsuccessful but not unreasonable. Signal is to pay 80% of Bidco's and the GLAS Defendants' costs, subject to detailed assessment. Dr Kebekus is to pay 8% of Bidco's costs, reflecting his limited unsuccessful participation. Payments on account are ordered at 45% of 80% of claimed costs. Interest is awarded at 1% over base, with statutory interest on the balance postponed for three months. Permission to appeal is refused.

Court Disposition

Costs judgment: Signal to pay 80% of Bidco's and GLAS Defendants' costs; Dr Kebekus to pay 8% of Bidco's costs; payments on account ordered; interest awarded; permission to appeal refused.

Orders

  • Signal to pay 80% of Bidco's costs, subject to detailed assessment if not agreed.
  • Signal to pay 80% of the GLAS Defendants' costs, subject to detailed assessment if not agreed.