Hackney Empire Ltd v Aviva Insurance UK Ltd

Hackney Empire Ltd v Aviva Insurance UK Ltd

Interest should run from 29 March 2004, three weeks after HEL's demand, at a rate of 2% over Barclays base rate, reflecting HEL's status as a charity and not a commercial entity, and taking into account the delay but not categorising it as exceptional or inexcusable.

Parties
Claimant: Hackney Empire Ltd; Defendant: Aviva Insurance UK Ltd
Jurisdiction
England and Wales
Judgment Date
30 July 2013
Procedural Posture
Civil / Post Judgment Determination of Interest
Outcome
Interest awarded to HEL from 29 March 2004 at 2% over Barclays base rate until payment of the principal sum.
Legal Topics
Interest on Judgment Debts, Delay in Litigation, Performance Bonds
Contract Law Insurance Law Interest on Judgment Debts Delay in Litigation Performance Bonds

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Parties

Hackney Empire Ltd

Claimant

Aviva Insurance UK Ltd

Defendant

Procedural Posture

Civil / Post Judgment Determination of Interest

Legal Issues

  1. 1 From what date should interest run
  2. 2 For what period should interest run
  3. 3 What should be the rate of interest during that period

Ratio Decidendi

Interest should run from 29 March 2004, three weeks after HEL's demand, at a rate of 2% over Barclays base rate, reflecting HEL's status as a charity and not a commercial entity, and taking into account the delay but not categorising it as exceptional or inexcusable.

Court Disposition

Interest awarded to HEL from 29 March 2004 at 2% over Barclays base rate until payment of the principal sum.

Orders

  • Aviva to pay interest to HEL at 2% over Barclays base rate from 29 March 2004 to date of payment.