Athena Capital Fund Sicav-Fis S.C.A. & Ors. v Secretariat of State for the Holy See

Athena Capital Fund Sicav-Fis S.C.A. & Ors. v Secretariat of State for the Holy See

The judge erred in imposing a case management stay; appellants are entitled to their costs, but recovery is limited to reasonable and proportionate amounts, with no justification for rates above guideline provided.

Parties
Appellant/claimant: Athena Capital Fund SICAV-FIS S. C. A.; Appellant/claimant: Athena Capital Real Estate and Special Situations Fund 1; Appellant/claimant: WRM Capital Asset Management S. A. R. L.; Appellant/claimant: Raffaele Mincione; Respondent/defendant: Secretariat of State for the Holy See
Jurisdiction
England and Wales
Judgment Date
26 July 2022
Procedural Posture
Civil Appeal / Costs Judgment Following Successful Appeal
Outcome
Appeal allowed; costs awarded to appellants; payment on account ordered.
Legal Topics
Case Management Stay, Costs Assessment, Guideline Hourly Rates, Payment on Account
Civil Procedure Costs Case Management Stay Costs Assessment Guideline Hourly Rates Payment on Account

Case Brief

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Parties

Athena Capital Fund SICAV-FIS S. C. A.

Appellant/claimant

Athena Capital Real Estate and Special Situations Fund 1

Appellant/claimant

WRM Capital Asset Management S. A. R. L.

Appellant/claimant

Raffaele Mincione

Appellant/claimant

Secretariat of State for the Holy See

Respondent/defendant

Procedural Posture

Civil Appeal / Costs Judgment Following Successful Appeal

Legal Issues

  1. 1 Whether the judge exercised discretion wrongly in granting a case management stay
  2. 2 Appropriate costs order and payment on account
  3. 3 Justification for solicitors' hourly rates exceeding guideline rates

Ratio Decidendi

The judge erred in imposing a case management stay; appellants are entitled to their costs, but recovery is limited to reasonable and proportionate amounts, with no justification for rates above guideline provided.

Court Disposition

Appeal allowed; costs awarded to appellants; payment on account ordered.

Orders

  • Appellants awarded costs of the appeal on the standard basis.
  • Payment on account of £100,000 ordered.