DVB Bank SE & Anor v Vega Marine Ltd & Ors

DVB Bank SE & Anor v Vega Marine Ltd & Ors

Claimants are entitled to contractual interest at 3.5% per annum both before and after judgment, and to costs assessed summarily at £91,500, as the contractual provisions were validly invoked and no grounds for dispute were shown.

Parties
Claimant: DVB Bank SE; Claimant: Norddeutsche Landesbank - Girozentrale; Defendant: Vega Marine Ltd; Defendant: Fortuneship Ltd; Defendant: Mr Nikolaos Livanos
Jurisdiction
England and Wales
Judgment Date
30 June 2020
Procedural Posture
Commercial Claim / Post Judgment Consequential Matters
Outcome
Claimants awarded judgment for principal sums, contractual interest, and costs.
Legal Topics
Interest on Judgment Debts, Costs Assessment, Contractual Entitlement to Costs, Post Judgment Interest
Commercial Law Contract Law Civil Procedure Interest on Judgment Debts Costs Assessment Contractual Entitlement to Costs Post Judgment Interest

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 11 Party arguments 2 Amounts and remedies 4
Sign in to unlock

Parties

DVB Bank SE

Claimant

Norddeutsche Landesbank - Girozentrale

Claimant

Vega Marine Ltd

Defendant

Fortuneship Ltd

Defendant

Mr Nikolaos Livanos

Defendant

Procedural Posture

Commercial Claim / Post Judgment Consequential Matters

Legal Issues

  1. 1 Entitlement to pre-judgment and post-judgment interest
  2. 2 Entitlement to costs and method of assessment
  3. 3 Appropriateness of summary assessment of costs

Ratio Decidendi

Claimants are entitled to contractual interest at 3.5% per annum both before and after judgment, and to costs assessed summarily at £91,500, as the contractual provisions were validly invoked and no grounds for dispute were shown.

Court Disposition

Claimants awarded judgment for principal sums, contractual interest, and costs.

Orders

  • Judgment for both Claimants against First and Second Defendants for US$ 11,741,758.12 plus interest at 3.5% per annum from 2 March 2019 to 10 June 2020.
  • Judgment for First Claimant against Third Defendant for US$ 11,741,758.12 plus interest at 3.5% per annum for same period.