Case Nos: CL-2022-000294; CL-2022-000557; - [2025] EWHC 2529 (Comm)

MR JUSTICE BUTCHER :

Judgment was handed down in these actions on 11 June 2025: [2025] EWHC 1430 (Comm) (‘the Judgment’).

Since the Judgment, DAE and Falcon have settled with all their respective insurers, and Merx has settled with its war risks insurers.

There remained certain issues between those parties who had not settled as to interest, costs and permission to appeal. I heard argument on those issues on 15-16 September 2025. On the issues relating to interest, I stated my conclusions during the hearing, and said that I would provide reasons for those conclusions in writing. In relation to costs I reserved my decision. In relation to the applications for permission to appeal, I gave my decision that permission to appeal should not be granted, and said that I would provide somewhat fuller reasons in writing. This judgment sets out my decisions on costs and gives reasons for my decisions on interest and permission to appeal.

Interest

There were issues in the AerCap and Genesis claims as to what interest should be awarded on the sums to which those claimants were found entitled as against their war risks insurers.

AerCap

I will take AerCap first. There were three matters of dispute. First, as to what was the appropriate commencement date for an award of interest; second, the rate of pre-judgment interest; and third, whether any interest awarded should be simple or compound.