Pender v GGH (Jersey) Limited and Ors 03-June-2025 (Royal Court : Hearing (Civil) : Binnington : Companies) [2025] JRC 149 (3 June 2025)

Pender v GGH (Jersey) Limited and Ors 03-June-2025 (Royal Court : Hearing (Civil) : Binnington : Companies) [2025] JRC 149 (3 June 2025)

The Plaintiff is entitled to costs of the proceedings up to 17 June 2024 on the standard basis, but not indemnity costs, and no order for costs thereafter except for the urgent application, where the Plaintiff must pay the Second Defendant's costs due to lack of openness. Pre-judgment interest is awarded at 1% above Bank of England base rate, reflecting the Plaintiff's status as a sophisticated investor but not at the level of high-risk investment returns. Post-judgment interest is at 2% above base rate. The Second Defendant's application for a stay pending appeal is refused.

Citation
[2025] JRC 149
Parties
Plaintiff: Plaintiff; Defendant: Second Defendant
Jurisdiction
Jersey
Judgment Date
03 June 2025
Procedural Posture
Unfair Prejudice Petition / Company Law / Post Judgment Applications on Costs, Interest, and Stay Pending Appeal
Outcome
Plaintiff's applications for costs and interest granted in part; Second Defendant's application for stay refused.
Legal Topics
Unfair Prejudice, Costs, Interest, Stay of Execution, Valuation of Shares
Company Law Civil Procedure Unfair Prejudice Costs Interest Stay of Execution Valuation of Shares

Case Brief

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Parties

Plaintiff

Plaintiff

Second Defendant

Defendant

Procedural Posture

Unfair Prejudice Petition / Company Law / Post Judgment Applications on Costs, Interest, and Stay Pending Appeal

Legal Issues

  1. 1 Whether the Plaintiff is entitled to costs of the proceedings and urgent application
  2. 2 Whether the Plaintiff is entitled to pre- and post-judgment interest and at what rate
  3. 3 Whether the Second Defendant is entitled to a stay of payment pending appeal

Ratio Decidendi

The Plaintiff is entitled to costs of the proceedings up to 17 June 2024 on the standard basis, but not indemnity costs, and no order for costs thereafter except for the urgent application, where the Plaintiff must pay the Second Defendant's costs due to lack of openness. Pre-judgment interest is awarded at 1% above Bank of England base rate, reflecting the Plaintiff's status as a sophisticated investor but not at the level of high-risk investment returns. Post-judgment interest is at 2% above base rate. The Second Defendant's application for a stay pending appeal is refused.

Court Disposition

Plaintiff's applications for costs and interest granted in part; Second Defendant's application for stay refused.

Orders

  • Plaintiff to pay Second Defendant's costs of the urgent application on the standard basis.
  • Second Defendant to pay Plaintiff's costs of proceedings up to and including 17 June 2024 on the standard basis, to be taxed if not agreed.