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Commercial Litigation

January 9, 2012

Ian Carruthers of Liverpool Solicitors Carruthers Law writes as to a Commercial Litigation case as to costs. F & C Alternative investments (Holdings) Limited v Francios Barthelemy and Anthony Culligan [2011] EWHC 1851 (Ch)

In this case the defendants were successful on the majority of issues in the claim. The judge ordered the claimant to pay costs on an indemnity basis.

In order to fund the litigation the defendants had to take out very high interest loans at the last minute ranging from between 20% and almost 50% per annum on sums between £400,000 and over £1,000,000.

It was the courts view that the order for costs should reflect this and on that basis it was ordered that the costs from the date that the defendants had to take out the loans should have interest included of 40% per annum.

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