Involnert Management Inc v Aprilgrange Limited & Ors [2015] EWHC 2834 (Comm) (08 October 2015)

Involnert Management Inc v Aprilgrange Limited & Ors [2015] EWHC 2834 (Comm) (08 October 2015)

Interest under section 17 of the Judgments Act 1838 on costs payable by the claimant should run from three months after the date of the costs order, aligning with the period allowed for commencing detailed assessment proceedings under CPR 47.7, as this is the point at which the claimant can reasonably assess its liability.

Citation
[2015] EWHC 2834 (Comm)
Parties
Claimant: Involnert Management Inc; Defendants: Aprilgrange Limited & Others; First Third Party: AIS Insurance Services Limited; Second Third Party: OAMPS Special Risks Limited
Jurisdiction
England and Wales
Judgment Date
08 October 2015
Procedural Posture
Commercial Court Costs Order (post Trial) / Consequential Hearing on Costs and Interest
Outcome
Application granted in part; interest on costs to run from three months after the costs order.
Legal Topics
Interest on Costs, Judgments Act 1838, Civil Procedure Rules CPR 40.8, Interim Payments, Detailed Assessment of Costs
Civil Procedure Costs Interest on Costs Judgments Act 1838 Civil Procedure Rules CPR 40.8 Interim Payments Detailed Assessment of Costs

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Parties

Involnert Management Inc

Claimant

Aprilgrange Limited & Others

Defendants

AIS Insurance Services Limited

First Third Party

OAMPS Special Risks Limited

Second Third Party

Procedural Posture

Commercial Court Costs Order (post Trial) / Consequential Hearing on Costs and Interest

Legal Issues

  1. 1 From what date should interest under section 17 of the Judgments Act 1838 run on costs payable by the claimant?
  2. 2 Does the court have discretion to postpone the start date for interest under CPR 40.8(1)?
  3. 3 What is the just approach to setting the date for interest on costs to run?

Ratio Decidendi

Interest under section 17 of the Judgments Act 1838 on costs payable by the claimant should run from three months after the date of the costs order, aligning with the period allowed for commencing detailed assessment proceedings under CPR 47.7, as this is the point at which the claimant can reasonably assess its liability.

Court Disposition

Application granted in part; interest on costs to run from three months after the costs order.

Orders

  • Interest on costs payable by the claimant to the defendants and OAMPS to run at Bank of England Base Rate plus 2% from the dates costs were incurred until three months after the costs order; thereafter, interest at the rate prescribed by section 17 of the Judgments Act 1838.
  • Claimant to pay interim payments of £1,030,554 to the defendants and £600,000 to OAMPS on account of costs.