Excalibur Ventures LLC v Texas Keystone Inc & Ors

Excalibur Ventures LLC v Texas Keystone Inc & Ors

The court ordered costs to be assessed on the indemnity scale due to Excalibur's speculative, opportunistic, and exaggerated claims, aggressive litigation tactics, and relentless pursuit of spurious allegations, which imposed disproportionate burdens on the defendants and the court system, taking the case well outside the norm.

Parties
Claimant: Excalibur Ventures LLC; Defendant: Texas Keystone Inc.; Defendant: Gulf Keystone Petroleum Limited; Defendant: Gulf Keystone Petroleum International Limited; Defendant: Gulf Keystone Petroleum (UK) Limited
Jurisdiction
England and Wales
Judgment Date
13 December 2013
Procedural Posture
Commercial Litigation / Post Trial Costs Determination
Outcome
Costs to be assessed on the indemnity scale; interim payments ordered; further security for costs ordered; liberty to join Funders if security not provided.
Legal Topics
Costs Assessment, Security for Costs, Indemnity Costs, Litigation Funding
Civil Procedure Commercial Law Costs Assessment Security for Costs Indemnity Costs Litigation Funding

Case Brief

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Parties

Excalibur Ventures LLC

Claimant

Texas Keystone Inc.

Defendant

Gulf Keystone Petroleum Limited

Defendant

Gulf Keystone Petroleum International Limited

Defendant

Gulf Keystone Petroleum (UK) Limited

Defendant

Procedural Posture

Commercial Litigation / Post Trial Costs Determination

Legal Issues

  1. 1 Whether costs should be assessed on the standard or indemnity scale
  2. 2 Whether further security for costs should be ordered
  3. 3 Whether Funders should be joined for non-party costs orders

Ratio Decidendi

The court ordered costs to be assessed on the indemnity scale due to Excalibur's speculative, opportunistic, and exaggerated claims, aggressive litigation tactics, and relentless pursuit of spurious allegations, which imposed disproportionate burdens on the defendants and the court system, taking the case well outside the norm.

Court Disposition

Costs to be assessed on the indemnity scale; interim payments ordered; further security for costs ordered; liberty to join Funders if security not provided.

Orders

  • Costs of Texas and Gulf defendants to be assessed on the indemnity scale.
  • Interest on costs at 1.5% per annum from date of payment of relevant invoices until 13 December 2013.