Vector Investments v J D Williams
Citation: EWHC 3601 (TCC)
Nature of case:
Having compromised the substantive proceedings in this action by virtue of a Tomlin Order; the parties agreed that liability for the costs of these proceedings should be determined by the court if it could not be agreed by the parties. The compromise was on the basis that the Defendant (Williams) agreed to pay the Claimant (Vector) £750,000 plus VAT in full and final satisfaction of all the claims and counterclaims in the action. Accordingly, Ramsey, J. held that the Defendant pay the Claimant its costs up to the 19th September 2007 and 50% of its costs from the 19th September 2007, such costs to be assessed on a standard basis if not agreed. Secondly that the Claimant should give credit by way of reduction of the costs payable under that order for £20,000 in relation to the wasted costs incurred by the Defendant in inspecting the Claimant’s documents. The Claimant was also ordered to pay 70% of its costs for the current proceedings.