OUTER HOUSE, COURT OF SESSION
[2013] CSOH 97
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CA109/11
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OPINION OF LORD HODGE
in the cause
McCRINDLE GROUP LTD
Pursuer;
against
MACLAY MURRAY & SPENS
Defender:
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Pursuer: Murphy QC, McBrearty; TLT Scotland Limited
Defender: Hanretty QC; Shepherd & Wedderburn LLP
4 June 2013
[4] Counsel agreed that the
appropriate rate of pre-decree judicial interest on that sum should be the
normal rate of 8% per year until 4 December 2008. Thereafter, it should
be 4% per year to reflect the dramatic fall in market rates in late 2008
and the very low levels of interest rates thereafter. This accorded with the
approach which I adopted in Farstad Supply AS v Enviroco Ltd [2011]
CSOH 153 (2012 SLT 348) and which an Extra Division has upheld
([2012] CSIH 9 (2013 SLT 421)).