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Weavering Macro Fixed Income Fund Limited (In Official Liquidation) -v- Ernst and Young Chartered Accounts (a Firm) and Others (5 May 2015)

May 2015 Costs

CAYMAN ISLANDS

GRAND COURT

JUDGMENT ON COSTS – COSTS THROWN AWAY AND OCCASIONED ON PLAINTIFF’S AMMENDMENT TO STATEMENT OF CLAIM – COSTS OF AND THROWN AWAY BY ABANDONED CLAIMS IN DECEIT – INTERIM PAYMENT ON ACCOUNT PENDING TAXATION

The Judgment concentrated on three key issues relating to costs: (i) costs thrown away and occasioned by amendments to the Plaintiff’s statement of claim; (ii) costs thrown away by the abandoned claims in deceit and (iii) an invitation for the Court to exercise its discretion and to award an interim payment on account pending taxation.

On the first issue the Court took guidance from Order 20 Rule 8 of the Supreme Court Practice, 1999 where Paragraph 20/8/52 states that:

The usual penalty imposed on a term for giving leave to amend is that the party seeking the amendment should pay in any event all the costs incurred and thrown away by the amendment and the costs of any consequential amendment”.

 

To continue reading full articles in PDF format:
Weavering Macro Fixed Income Fund Limited (In Official Liquidation) -v- Ernst and Young Chartered Accounts (a Firm) and Others (5 May 2015)

 

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