Shell International Trading & Shipping Company Ltd & Ors v Tikhonov & Ors

Shell International Trading & Shipping Company Ltd & Ors v Tikhonov & Ors

Compound interest at 4.5% with monthly rests is appropriate; indemnity costs are justified due to dishonest defences; permission to appeal and stay pending appeal are refused as the grounds lack merit and new evidence is unsubstantiated.

Source-derived case information.

Parties
Claimant: Shell International Trading & Shipping Company Limited; Claimant: Shell Trading International Limited; Claimant: Shell Trading Russia BV; Defendant: Evegny Tikhonov; Defendant: T Capital Limited; Defendant: T Capital Management Limited
Jurisdiction
England and Wales
Judgment Date
16 July 2010
Procedural Posture
Civil / Post Judgment Orders
Outcome
orders granted as per Shell's draft; permission to appeal and stay pending appeal refused
Legal Topics
Compound Interest, Indemnity Costs, Permission to Appeal, Stay Pending Appeal
Commercial Law Employment Law Compound Interest Indemnity Costs Permission to Appeal Stay Pending Appeal

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Parties

Shell International Trading & Shipping Company Limited

Claimant

Shell Trading International Limited

Claimant

Shell Trading Russia BV

Claimant

Evegny Tikhonov

Defendant

T Capital Limited

Defendant

T Capital Management Limited

Defendant

Procedural Posture

Civil / Post Judgment Orders

Legal Issues

  1. 1 appropriate rate and calculation of compound interest
  2. 2 award of indemnity costs
  3. 3 disclosure of hearsay statements

Ratio Decidendi

Compound interest at 4.5% with monthly rests is appropriate; indemnity costs are justified due to dishonest defences; permission to appeal and stay pending appeal are refused as the grounds lack merit and new evidence is unsubstantiated.

Court Disposition

orders granted as per Shell's draft; permission to appeal and stay pending appeal refused

Orders

  • Compound interest at 4.5% per annum with monthly rests from dates of receipt to 23 June 2010; Shell may opt for yearly rests if monthly calculation is complex.
  • Indemnity costs awarded; payment on account of £750,000.