CL-2021-000341 - [2025] EWHC 1684 (Comm)

COSTS

The Claimant is entitled to its costs of the proceedings, including the summary judgment application. I was asked to determine the costs of the whole proceedings, in circumstances where the application for summary judgment was undefended and there must realistically be some doubt about the recoverability of further sums from the Defendant. In those circumstances, there was an obvious risk that to direct a detailed assessment of costs would mean the Claimant would have to spend further substantial sums of money, which might in practice be irrecoverable. I therefore concluded that I should summarily assess the costs of the proceedings.

I do not think it is appropriate to set summary assessment at 100 per cent level, as experience suggests there is generally some discount even on a detailed assessment notwithstanding that (as in the present case) the hourly rates and counsel’s fees being claimed seem reasonable. Moreover, I note that some of the costs claimed may have related to the hedging claim that is no longer being pursued. Therefore, I applied a modest discount to the amounts claimed. In the result, I summarily assessed the costs in the total amount of £190,000.