Britned Development Ltd v ABB AB & Anor

Britned Development Ltd v ABB AB & Anor

In the absence of an undertaking from BritNed to treat damages as subject to the IRR Cap, the court must reduce the damages award by 10% to reflect the risk of overcompensation. Interest is to be awarded at EURIBOR plus 1% from the date of contract to judgment, and permission to appeal is granted on the Overcharge Claim, Lost Profit Claim, and Regulatory Cap Issue due to their novel and significant nature.

Parties
Claimant: BritNed Development Limited; Defendant: ABB AB; Defendant: ABB Ltd
Jurisdiction
England and Wales
Judgment Date
01 November 2018
Procedural Posture
Civil / Supplemental Judgment on Consequential Matters Post Trial
Outcome
Damages award reduced by 10%; interest awarded; permission to appeal granted on specified issues; costs reserved.
Legal Topics
Damages, Interest, Regulatory Cap, Permission to Appeal, Costs
Competition Law Contract Law Damages Interest Regulatory Cap Permission to Appeal Costs

Case Brief

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Parties

BritNed Development Limited

Claimant

ABB AB

Defendant

ABB Ltd

Defendant

Procedural Posture

Civil / Supplemental Judgment on Consequential Matters Post Trial

Legal Issues

  1. 1 Whether damages awarded to BritNed should be subject to the IRR Cap in the absence of an undertaking
  2. 2 Appropriate adjustment to damages to avoid overcompensation
  3. 3 Proper rate and period for interest under section 35A of the Senior Courts Act 1981

Ratio Decidendi

In the absence of an undertaking from BritNed to treat damages as subject to the IRR Cap, the court must reduce the damages award by 10% to reflect the risk of overcompensation. Interest is to be awarded at EURIBOR plus 1% from the date of contract to judgment, and permission to appeal is granted on the Overcharge Claim, Lost Profit Claim, and Regulatory Cap Issue due to their novel and significant nature.

Court Disposition

Damages award reduced by 10%; interest awarded; permission to appeal granted on specified issues; costs reserved.

Orders

  • Damages reduced from €13,009,568 to €11,708,611.20 to reflect risk of overcompensation.
  • Interest awarded at EURIBOR plus 1% from 21 May 2007 to 31 October 2018.