- Part 36 offers and currency issues (Novus Aviation Limited v Alubaf Arab International Bank)
- Practical implications
- How did the Part 36 currency issue arise in this case?
- When do you carry out the currency comparison in relation to Part 36 offers and judgments made in different currencies?
- Relevance of the currency issue when the court determined whether or not to award an additional amount under CPR 36.17(4)(d)
- Court details
Dispute Resolution analysis: Leggatt J has considered it unjust to award a claimant Part 36 costs where the only reason that the claimant had obtained a judgment which was ‘at least as advantageous’ to it as the terms of its own Part 36 offer was because of a fall in the pound which had occurred after the Part 36 offer had been made and particularly latterly following the Brexit ‘leave’ vote. It had been purely happenstance that there had been a delay between the end of the trial and the handing down of judgment and the reality was that, had the defendant accepted the claimant’s Part 36 offer at any time between the date of its making some two years ago and the end of the trial, the amount of the offer would have been more than the sum awarded in the judgment with the result that there would have been no question of claimant Part 36 costs orders being made.
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