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Contact with chambers should be made through the Practice Management Team. They are happy to discuss client requirements and provide further information on such matters as the expertise and experience of individual members, fees, working practices and languages spoken. We have members able to work in French, German, Italian, Spanish, Dutch, Swedish, Greek and Chinese (Mandarin).

Outside working hours, a member of our team is always available to be contacted on matters of an urgent nature. Contact should be made using the Chambers main number or email.

To contact our Singapore office, please contact our BD Director, Asia, Rachel Foxton. Out of office hours calls will automatically be diverted to our clerking team in London.

London

20 Essex Street
London
WC2R 3AL

enquiries@twentyessex.com
t: +44 20 7842 1200
DX 0009 Lond/Chan Lane

Singapore

28 Maxwell Road
#02-03
Maxwell Chambers Suites
Singapore 069120

singapore@twentyessex.com
t: +65 62257230

Contact

Contact with chambers should be made through the Practice Management Team. They are happy to discuss client requirements and provide further information on such matters as the expertise and experience of individual members, fees, working practices and languages spoken. We have members able to work in French, German, Italian, Spanish, Dutch, Swedish, Greek and Chinese (Mandarin).

Outside working hours, a member of our team is always available to be contacted on matters of an urgent nature. Contact should be made using the Chambers main number or email.

To contact our Singapore office, please contact our BD Director, Asia, Rachel Foxton. Out of office hours calls will automatically be diverted to our clerking team in London.

London

20 Essex Street
London
WC2R 3AL

enquiries@twentyessex.com
t: +44 20 7842 1200
DX 0009 Lond/Chan Lane

Singapore

28 Maxwell Road
#02-03
Maxwell Chambers Suites
Singapore 069120

singapore@twentyessex.com
t: +65 62257230

27/03/2017

OMV PETROM SA and GLENCORE INTERNATIONAL AG

This is an archived article, and some links may not work. Contact us if you have any questions.

The Court of Appeal has today handed down an important judgment as to the effects of CPR Part 36 and in particular the Court's powers to award enhanced interest. It is the latest decision in a long-running dispute between Petrom (a Romanian oil company) and Glencore, Glencore having deceitfully sold "counterfeit" cargoes of crude oil to Petrom's predecessors in title during the 1990s.  

The Chancellor (with whom Kitchin and Floyd LJJ agreed) upheld Petrom's argument that the powers to award enhanced interest on both damages and costs (at up to 10% over base) were not confined to notional compensation for the inconvenience of the litigation or the time value of money, as Glencore had contended. Rather, the Court could use the discretion to create an appropriate incentive towards settlement and/or to mark the court's disapproval of improper or unreasonable conduct. 

Glencore's conduct in the litigation was here described as "deplorable, if not outrageous", the company having based its defence to liability on the evidence of liars and blankly refused to engage in any settlement process. In keeping with the thrust of the CPR since the Jackson reforms, it was appropriate to use both the carrot and the stick to promote good behaviour by litigants. In the circumstances, and whilst observing that appeals against the exercise of the judge's discretion are likely to be rare, the Court of Appeal awarded Petrom the maximum allowable enhancements of 10.5%.

Duncan Matthews QC and Andrew Fulton represented Petrom. 


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