ON APPEAL FROM THE HIGH COURT OF JUSTICE
QUEEN'S BENCH DIVISION
(HIS HONOUR JUDGE HAVELOCK-ALLAN QC)
Strand, London, WC2A 2LL |
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B e f o r e :
LORD JUSTICE LLOYD
and
LORD JUSTICE MOORE - BICK
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RUBENSTEIN |
Appellant |
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- and - |
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HSBC BANK |
Respondent |
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The Respondent did not appear and was not represented.
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Lord Justice Rix:
1. The appellant's appeal is allowed save as to the appeal in respect of the ex gratia payment issue which is dismissed.2. The respondent's cross-appeal is dismissed.
3. The order of HHJ Havelock-Allan QC dated 13 September 2011 is set aside including:
i) the order as to costs;and ii) the order for an interim payment of costs to the respondent in the sum of £150,000.
4. There shall be judgment for the appellant in the agreed sum of £112,543.28 inclusive of interest of £6,509.13 until 12 September 2012 and having already offset the ex gratia payment. This sum shall be paid by or before 4pm on 3 October 2012.
5. The respondent shall repay the interim payment referred to in paragraph 3 above by or before 4pm on 3 October 2012 , together with interest thereon at the rate of 1 per cent above the HSBC Bank base rate from 4 October 2011 until the date of repayment.
6. Save as set out at paragraph 7 below, the respondent shall pay the appellant's costs of:
(a) the appellant's appeal;(b) the respondent's cross-appeal;
and c) the proceedings below; in each case to be assessed on the bases specified in paragraph 8 below.
Save as set out at paragraph 8.2 below, interest thereon shall be at the rate of 1 per cent above the HSBC bank base rate and credit shall be given for the interim payment set out below in paragraph 9.
7. The appellant shall bear his own costs of the appeal in respect of the ex gratia payment issue up to 3 May 2012 and shall pay the respondent's appeal costs of that issue up to the same date on the standard basis, to be the subject of detailed assessment if not agreed. [I comment, I hope it can be agreed.]
8. In relation to the costs payable by the respondent pursuant to paragraph 6 above in respect of:
8.1 the costs of the proceedings below. Those costs shall be assessed on the standard basis;and 8.2 the costs of the appellant's appeal and of the respondent's cross-appeal. Those costs shall be assessed on the standard basis until 3 May 2012 and thereafter on an indemnity basis, plus interest thereon at 5 per cent per annum, in each case to be the subject of detailed assessment if not agreed.
9. The respondent shall by or before 4pm on 3 October 2012 make an interim payment to the appellant of the costs orders to be paid as above in the sum of £400,000 in respect of the costs of the proceedings below and £225,000 in respect of the costs of the appellant's appeal and of the respondent's cross-appeal to a total of £625,000.
10. The respondent's application for permission to appeal to the Supreme Court is refused.
11. The provisions of paragraphs 6, 7 and 8 above shall be stayed until 10 October 2012, and if an application for permission to appeal to the Supreme Court is filed within that time shall be further stayed until the determination of that application and, if successful, the ensuing appeal to the Supreme Court.
Order: Application refused