FM Finnieston Ltd v Ross [2008] ScotCS CSOH_153 (05 November 2008)

FM Finnieston Ltd v Ross [2008] ScotCS CSOH_153 (05 November 2008)

The court has the power to order the Accountant of Court to place consigned funds in an account agreed by the parties that earns a higher rate of interest than the standard special deposit account, provided the details are agreed and satisfactory to the Accountant of Court.

Citation
[2008] ScotCS CSOH_153
Parties
Pursuer: F M Finnieston Ltd; Defender: Kenneth Ross
Jurisdiction
Scotland
Judgment Date
05 November 2008
Procedural Posture
Civil / Preliminary Hearing; Motion Regarding Caution for Expenses
Outcome
Order granted as sought by pursuers, subject to agreement on account details.
Legal Topics
Caution for Expenses, Consignation, Interest on Consigned Funds
Civil Procedure Caution for Expenses Consignation Interest on Consigned Funds

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Parties

F M Finnieston Ltd

Pursuer

Kenneth Ross

Defender

Procedural Posture

Civil / Preliminary Hearing; Motion Regarding Caution for Expenses

Legal Issues

  1. 1 Whether funds consigned into court as caution for expenses should be placed in an account earning a higher rate of interest than the standard special deposit account
  2. 2 Whether the court has power to order the Accountant of Court to place consigned funds in a particular account

Ratio Decidendi

The court has the power to order the Accountant of Court to place consigned funds in an account agreed by the parties that earns a higher rate of interest than the standard special deposit account, provided the details are agreed and satisfactory to the Accountant of Court.

Court Disposition

Order granted as sought by pursuers, subject to agreement on account details.

Orders

  • Accountant of Court to transfer consigned funds into an account agreed by the parties earning a higher rate of interest, once details are agreed and satisfactory to the Accountant of Court.