Energy Venture Partners Ltd v Malabu Oil & Gas Ltd

Energy Venture Partners Ltd v Malabu Oil & Gas Ltd

Malabu's application to vary paragraph 1 of the Order was dismissed because the decision to maintain its appeal was a commercial choice, not compelled by EVP's actions, and there was no justification to stop post-judgment interest. EVP's application for payment out of accrued post-judgment interest was granted as it...

Source-derived case information.

Parties
Claimant: Energy Venture Partners Ltd; Defendant: Malabu Oil and Gas Ltd
Jurisdiction
England and Wales
Judgment Date
14 March 2014
Procedural Posture
Commercial Court Claim / Post Judgment Applications to Vary Order
Outcome
Malabu's application to vary paragraph 1 of the Order dismissed; Malabu's application to require EVP to commence costs assessment adjourned; EVP's application for payment out of accrued post-judgment interest granted (subject to modification of wording).
Legal Topics
Quantum Meruit, Post Judgment Interest, Stays of Execution, Costs Assessment, Variation of Court Orders
Commercial Law Contract Law Civil Procedure Quantum Meruit Post Judgment Interest Stays of Execution Costs Assessment Variation of Court Orders

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Parties

Energy Venture Partners Ltd

Claimant

Malabu Oil and Gas Ltd

Defendant

Procedural Posture

Commercial Court Claim / Post Judgment Applications to Vary Order

Legal Issues

  1. 1 Whether paragraph 1 of the Order should be varied to stop post-judgment interest from a certain date
  2. 2 Whether EVP should be required to commence costs assessment
  3. 3 Whether accrued post-judgment interest should be paid out to EVP's solicitors

Ratio Decidendi

Malabu's application to vary paragraph 1 of the Order was dismissed because the decision to maintain its appeal was a commercial choice, not compelled by EVP's actions, and there was no justification to stop post-judgment interest. EVP's application for payment out of accrued post-judgment interest was granted as it fell within the liberty to apply and was reasonable. Malabu's application to require EVP to commence costs assessment was adjourned.

Court Disposition

Malabu's application to vary paragraph 1 of the Order dismissed; Malabu's application to require EVP to commence costs assessment adjourned; EVP's application for payment out of accrued post-judgment interest granted (subject to modification of wording).

Orders

  • Malabu's application to vary paragraph 1 of the Order dismissed.
  • Malabu's application to require EVP to commence costs assessment adjourned with liberty to apply.