IXIS Corporate & Investment Bank v West LB Ag [2007] EWHC 2063 (Comm) (19 July 2007)

IXIS Corporate & Investment Bank v West LB Ag [2007] EWHC 2063 (Comm) (19 July 2007)

Given the complexity, number of parties, and size of costs schedules, summary assessment would not allow proper discharge of duties under CPR 44.4(2); detailed assessment is required except for CIBC, whose modest costs warrant summary assessment.

Citation
[2007] EWHC 2063 (Comm)
Parties
Claimant: IXIS Corporate & Investment Bank; First Defendant: WestLB AG; Second Defendant: CIBC World Markets PLC; Third Defendant: Terra Firma Capital Partners Limited; Interested Party: Nomura
Jurisdiction
England and Wales
Judgment Date
19 July 2007
Procedural Posture
Commercial Court Costs Application / Post Application Costs Determination
Outcome
Application for summary assessment rejected; detailed assessment ordered except for CIBC.
Legal Topics
Costs Assessment, Summary Assessment, Detailed Assessment, Interim Payment
Civil Procedure Costs Assessment Summary Assessment Detailed Assessment Interim Payment

Case Brief

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Parties

IXIS Corporate & Investment Bank

Claimant

WestLB AG

First Defendant

CIBC World Markets PLC

Second Defendant

Terra Firma Capital Partners Limited

Third Defendant

Nomura

Interested Party

Procedural Posture

Commercial Court Costs Application / Post Application Costs Determination

Legal Issues

  1. 1 Whether costs should be assessed summarily or by detailed assessment
  2. 2 Appropriateness of interim payments on account of costs
  3. 3 Treatment of modest costs schedules

Ratio Decidendi

Given the complexity, number of parties, and size of costs schedules, summary assessment would not allow proper discharge of duties under CPR 44.4(2); detailed assessment is required except for CIBC, whose modest costs warrant summary assessment.

Court Disposition

Application for summary assessment rejected; detailed assessment ordered except for CIBC.

Orders

  • Immediate detailed assessment of costs for all parties except CIBC.
  • Summary assessment of CIBC's costs, subject to written submissions by WestLB.