Lloyds Bank Plc v McBains Cooper [2017] EWHC 30 (TCC) (18 January 2017)

Lloyds Bank Plc v McBains Cooper [2017] EWHC 30 (TCC) (18 January 2017)

The Bank is the successful party and should recover its costs, but is deprived of 20% of its costs to reflect lack of success on causation and contributory negligence, and a further reduction of £125,000 for ill-considered pursuit of allegations of recklessness. The Bank must also pay £150,000 towards McBains Cooper's costs for leading counsel, and bear its own costs of post-trial valuation evidence, plus 50% of McBains Cooper's valuation expert costs after 31 July 2015.

Citation
[2017] EWHC 30 (TCC)
Parties
Claimant: Lloyds Bank PLC; Defendant: McBains Cooper
Jurisdiction
England and Wales
Judgment Date
18 January 2017
Procedural Posture
Costs Judgment Following Trial on Liability and Damages / Post Trial, Costs Determination
Outcome
Bank awarded costs subject to reductions for recklessness and contributory negligence; specific orders regarding valuation evidence costs.
Legal Topics
Costs, Part 36 Offers, Issues Based Costs Orders, Negligence, Contributory Negligence, Settlement, Adjudication
Civil Procedure Professional Negligence Costs Part 36 Offers Issues Based Costs Orders Negligence Contributory Negligence Settlement +1 more

Case Brief

Summary, issues, holding and outcome

More case intelligence is available

Unlock the full research layer for this judgment.

Full judgment text Downloadable case file Legal principles 4 Authorities cited 10 Party arguments 2 Amounts and remedies 6
Sign in to unlock

Parties

Lloyds Bank PLC

Claimant

McBains Cooper

Defendant

Procedural Posture

Costs Judgment Following Trial on Liability and Damages / Post Trial, Costs Determination

Legal Issues

  1. 1 Appropriate costs order following partial success in professional negligence claim
  2. 2 Effect of withdrawn Part 36 offer on costs
  3. 3 Whether issues-based costs orders are justified

Ratio Decidendi

The Bank is the successful party and should recover its costs, but is deprived of 20% of its costs to reflect lack of success on causation and contributory negligence, and a further reduction of £125,000 for ill-considered pursuit of allegations of recklessness. The Bank must also pay £150,000 towards McBains Cooper's costs for leading counsel, and bear its own costs of post-trial valuation evidence, plus 50% of McBains Cooper's valuation expert costs after 31 July 2015.

Court Disposition

Bank awarded costs subject to reductions for recklessness and contributory negligence; specific orders regarding valuation evidence costs.

Orders

  • Bank's recovery of costs reduced by £125,000 plus any uplift for leading counsel's fees allowed on detailed assessment.
  • Bank to pay £150,000 towards McBains Cooper's costs for leading counsel.