Krishna Holdco Ltd v Gowrie Holdings Ltd & Ors (Costs) [2021] EWHC 1831 (Ch) (08 July 2021)

Krishna Holdco Ltd v Gowrie Holdings Ltd & Ors (Costs) [2021] EWHC 1831 (Ch) (08 July 2021)

The court held that the costs claimed by the Gowrie Parties for the security for costs application should be reduced by 25% (after a £3,000 deduction) to reflect duplication and proportionality, resulting in a sum of £71,912.51 (excluding VAT). LBNS's costs were summarily assessed at £28,500. The reserved costs relating to the RFI application were adjourned to trial as the court could not determine entitlement without hearing the substantive application. The costs for the interim payment application were summarily assessed at £20,000 (inclusive of VAT), reflecting a reduction for excessive solicitors' costs.

Citation
[2021] EWHC 1831 (Ch)
Parties
Petitioner/claimant: Krishna Holdco Limited; Respondent/defendant: Gowrie Holdings Limited; Respondent/defendant: Samit Govindji Hathi; Respondent/defendant: Govindji Thakershi Hathi; Respondent/defendant: Alpa Hathi; Respondent/defendant: Portside North Limited; Respondent/defendant: Laxmico Group Finance Limited; Respondent/defendant: Syri Limited; Respondent/defendant: Laxmi BNS Holdings Limited
Jurisdiction
England and Wales
Judgment Date
08 July 2021
Procedural Posture
Insolvency/companies (chancery Division) / Costs Case Management Conference (ccmc) and Summary Assessment of Costs
Outcome
Costs summarily assessed and awarded as specified; reserved costs on RFI application adjourned to trial.
Legal Topics
Security for Costs, Summary Assessment of Costs, Requests for Further Information (rfi), Interim Payment on Account
Civil Procedure Company Law Insolvency Security for Costs Summary Assessment of Costs Requests for Further Information (rfi) Interim Payment on Account

Case Brief

Summary, issues, holding and outcome

More case intelligence is available

Unlock the full research layer for this judgment.

Full judgment text Downloadable case file Legal principles 3 Authorities cited 1 Party arguments 2 Amounts and remedies 3
Sign in to unlock

Parties

Krishna Holdco Limited

Petitioner/claimant

Gowrie Holdings Limited

Respondent/defendant

Samit Govindji Hathi

Respondent/defendant

Govindji Thakershi Hathi

Respondent/defendant

Alpa Hathi

Respondent/defendant

Portside North Limited

Respondent/defendant

Laxmico Group Finance Limited

Respondent/defendant

Syri Limited

Respondent/defendant

Laxmi BNS Holdings Limited

Respondent/defendant

Procedural Posture

Insolvency/companies (chancery Division) / Costs Case Management Conference (ccmc) and Summary Assessment of Costs

Legal Issues

  1. 1 Appropriate quantum for summary assessment of costs for security for costs application
  2. 2 Entitlement to reserved costs relating to requests for further information (RFI)
  3. 3 Assessment of costs for interim payment application

Ratio Decidendi

The court held that the costs claimed by the Gowrie Parties for the security for costs application should be reduced by 25% (after a £3,000 deduction) to reflect duplication and proportionality, resulting in a sum of £71,912.51 (excluding VAT). LBNS's costs were summarily assessed at £28,500. The reserved costs relating to the RFI application were adjourned to trial as the court could not determine entitlement without hearing the substantive application. The costs for the interim payment application were summarily assessed at £20,000 (inclusive of VAT), reflecting a reduction for excessive solicitors' costs.

Court Disposition

Costs summarily assessed and awarded as specified; reserved costs on RFI application adjourned to trial.

Orders

  • Gowrie Parties awarded £71,912.51 (excluding VAT) for security for costs application.
  • LBNS awarded £28,500 for security for costs application.