Digital Capital Limited v Genesis Mining Iceland E.H.F.

Digital Capital Limited v Genesis Mining Iceland E.H.F.

Digital Capital was not in repudiatory breach of contract as at 3 June 2019; the Defendant was not entitled to terminate the Agreement as it purported to do. The Defendant's purported termination constituted a repudiatory breach, entitling Digital Capital to payment of outstanding invoices.

Parties
Claimant: Digital Capital Limited; Defendant: Genesis Mining Iceland E.H.F.
Jurisdiction
England and Wales
Judgment Date
08 September 2021
Procedural Posture
Commercial Claim / First Trial (liability, Not Damages)
Outcome
Claimant's claim succeeds; Defendant's counterclaim fails.
Legal Topics
Repudiatory Breach, Termination of Contract, Implied Terms, Payment of Invoices, Software Development Agreements
Contract Law Commercial Law Repudiatory Breach Termination of Contract Implied Terms Payment of Invoices Software Development Agreements

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Parties

Digital Capital Limited

Claimant

Genesis Mining Iceland E.H.F.

Defendant

Procedural Posture

Commercial Claim / First Trial (liability, Not Damages)

Legal Issues

  1. 1 Whether the Agreement contained implied terms as contended by the Defendant
  2. 2 Whether the Defendant was obliged to pay the invoices rendered by the Claimant
  3. 3 Whether the Defendant wrongfully renunciated and/or acted in repudiatory breach of the Agreement

Ratio Decidendi

Digital Capital was not in repudiatory breach of contract as at 3 June 2019; the Defendant was not entitled to terminate the Agreement as it purported to do. The Defendant's purported termination constituted a repudiatory breach, entitling Digital Capital to payment of outstanding invoices.

Court Disposition

Claimant's claim succeeds; Defendant's counterclaim fails.

Orders

  • Genesis Mining Iceland E.H.F. to pay Digital Capital Limited £2,484,046 for outstanding invoices.
  • Interest at 3% above RBS base rate from due date until payment, accruing daily and compounding quarterly (subject to further submissions).