Fiona Trust & Holding Corporation & Ors v Privalov & Ors [2011] EWHC 1312 (Comm) (25 May 2011)

Fiona Trust & Holding Corporation & Ors v Privalov & Ors [2011] EWHC 1312 (Comm) (25 May 2011)

There were no sufficiently unusual or unfair circumstances to justify deferral of Judgments Act interest; the risk of non-recovery of a payment on account in the event of a successful appeal, given Mr. Skarga's financial position, justified declining to order a payment on account of his costs.

Citation
[2011] EWHC 1312 (Comm)
Parties
Claimants: Fiona Trust & Holding Corporation and 75 ors; Defendants: Yuri Privalov and 28 ors; Claimants: Intrigue Shipping Inc. and 50 ors; Defendants: H. Clarkson & Company Ltd. and 8 ors; Claimants: Fiona Trust & Holding Corp. and 9 ors; Defendant: Dmitry Skarga; Defendant: Tagir Izmaylov
Jurisdiction
England and Wales
Judgment Date
25 May 2011
Procedural Posture
Commercial Litigation (costs Rulings) / Post Judgment, Costs and Interest Applications
Outcome
Applications for deferral of Judgments Act interest dismissed; application for payment on account of Mr. Skarga's costs refused.
Legal Topics
Costs, Interest on Judgments, Payment on Account, Appeal Procedure
Civil Procedure Commercial Law Costs Interest on Judgments Payment on Account Appeal Procedure

Case Brief

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Parties

Fiona Trust & Holding Corporation and 75 ors

Claimants

Yuri Privalov and 28 ors

Defendants

Intrigue Shipping Inc. and 50 ors

Claimants

H. Clarkson & Company Ltd. and 8 ors

Defendants

Fiona Trust & Holding Corp. and 9 ors

Claimants

Dmitry Skarga

Defendant

Tagir Izmaylov

Defendant

Procedural Posture

Commercial Litigation (costs Rulings) / Post Judgment, Costs and Interest Applications

Legal Issues

  1. 1 Whether Judgments Act interest should be deferred on costs awarded to defendants
  2. 2 Whether a payment on account of costs should be ordered in favour of Mr. Skarga
  3. 3 Allocation of costs for determination of these issues

Ratio Decidendi

There were no sufficiently unusual or unfair circumstances to justify deferral of Judgments Act interest; the risk of non-recovery of a payment on account in the event of a successful appeal, given Mr. Skarga's financial position, justified declining to order a payment on account of his costs.

Court Disposition

Applications for deferral of Judgments Act interest dismissed; application for payment on account of Mr. Skarga's costs refused.

Orders

  • Judgments Act interest to run from 24 March 2011 at 8% per annum on costs awarded to Mr. Skarga and Mr. Izmaylov.
  • No payment on account of costs to Mr. Skarga at this stage.