Musst Holdings Ltd v Astra Asset Management UK Ltd & Ors [2022] EWHC 629 (Ch) (18 March 2022)

Musst Holdings Ltd v Astra Asset Management UK Ltd & Ors [2022] EWHC 629 (Ch) (18 March 2022)

Costs for both contract and defamation claims to be assessed on the standard basis; no conduct sufficiently out of the norm to justify indemnity costs. Musst entitled to payment on account of costs, with deduction for abortive amendment application. Interim payment ordered based on actual fees earned and received, not hypothetical accruals. Security for costs not released pending appeal. Inspection of books and records and strike out application to be determined at future hearing.

Citation
[2022] EWHC 629 (Ch)
Parties
Claimant in Contract Claim / Defendant in Defamation Claim: Musst Holdings Limited; Defendant in Contract Claim / Claimant in Defamation Claim: Astra Asset Management UK Limited; Defendant in Contract Claim / Claimant in Defamation Claim: Astra Asset Management LLP; Defendant in Defamation Claim: Musst Investments LLP; Defendant in Defamation Claim: Mr Saleem Anwar Siddiqi
Jurisdiction
England and Wales
Judgment Date
18 March 2022
Procedural Posture
Commercial Litigation (contract and Defamation Claims) / Post Trial, Consequential Judgment on Costs and Interim Orders
Outcome
Costs assessed on standard basis; interim payment ordered; abortive amendment application costs to be paid by Musst; security for costs not released; directions for further hearing on strike out and inspection issues.
Legal Topics
Costs Assessment, Indemnity Vs Standard Costs, Interim Payments, Security for Costs, Inspection of Books and Records, Strike Out Applications
Commercial Law Defamation Civil Procedure Costs Assessment Indemnity Vs Standard Costs Interim Payments Security for Costs Inspection of Books and Records +1 more

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Parties

Musst Holdings Limited

Claimant in Contract Claim / Defendant in Defamation Claim

Astra Asset Management UK Limited

Defendant in Contract Claim / Claimant in Defamation Claim

Astra Asset Management LLP

Defendant in Contract Claim / Claimant in Defamation Claim

Musst Investments LLP

Defendant in Defamation Claim

Mr Saleem Anwar Siddiqi

Defendant in Defamation Claim

Procedural Posture

Commercial Litigation (contract and Defamation Claims) / Post Trial, Consequential Judgment on Costs and Interim Orders

Legal Issues

  1. 1 Whether costs should be assessed on indemnity or standard basis for both contract and defamation claims
  2. 2 Recoverability of ATE premium
  3. 3 Deductions from costs

Ratio Decidendi

Costs for both contract and defamation claims to be assessed on the standard basis; no conduct sufficiently out of the norm to justify indemnity costs. Musst entitled to payment on account of costs, with deduction for abortive amendment application. Interim payment ordered based on actual fees earned and received, not hypothetical accruals. Security for costs not released pending appeal. Inspection of books and records and strike out application to be determined at future hearing.

Court Disposition

Costs assessed on standard basis; interim payment ordered; abortive amendment application costs to be paid by Musst; security for costs not released; directions for further hearing on strike out and inspection issues.

Orders

  • Astra Parties to pay Musst Parties' costs of contract and defamation claims on standard basis, assessed forthwith if not agreed.
  • Musst to pay Astra Parties' costs of and occasioned by abortive amendment application, to be assessed.