Discussing UK law. Links: swarb.co.uk | law-index | Acts | Members Image galleries

Interest on settlement

Interest on settlement

Postby Reco » Thu Feb 19, 2015 5:47 pm

Hi Everyone

I settled a PI claim using a Tomlin consent order after a 6 year battle in court (and some great help from members here thanks again) In its order the Court stated " on payment of the damages and costs referred to above the Defendant is discharged from any further liability in respect of the subject matter of the claim.

My question is does this disqualify me from asking for interest on the £15k damages and 1.5k costs I agreed to?

If it did can I seek to have the 2009 order set aside after all this time?

Thanks in advance of any replies
Reco
 
Posts: 24
Joined: Mon Feb 10, 2014 6:34 pm

Re: Interest on settlement

Postby atticus » Thu Feb 19, 2015 5:53 pm

you are entitled to receive whatever payment you have agreed to accept and the other party has agreed to pay.

If interest is not provided for, you are not entitled to demand it.

Didn't we have a thread about getting the settlement terms right?

What 2009 order? Gut feel is that getting that set aside will be unlikely.
User avatar
atticus
 
Posts: 19183
Joined: Sun Nov 11, 2012 2:27 pm
Location: E&W

Re: Interest on settlement

Postby Reco » Thu Feb 19, 2015 6:10 pm

I may be wrong of course but I think that interest on personal injury case follows as a matter of course

The order states
1. "all further proceedings in this action be stayed except for the purpose of carrying the said terms into effect and there be liberty to apply for that purpose"
2. The defendant shall pay the claimants reasonable LIP costs to be subject to assessment unless agreed"

the last para is in OP
Reco
 
Posts: 24
Joined: Mon Feb 10, 2014 6:34 pm

Re: Interest on settlement

Postby Denning » Thu Feb 19, 2015 9:17 pm

on payment of the damages and costs referred to above the Defendant is discharged from any further liability in respect of the subject matter of the claim.

Ask the Defendant's nicely about the interest and if disputed I will suggest not to ask for it because the order quoted would be used as defense as to why no interest was ordered. Alternatively try and request the court to modify the order to include interest under the Slip Rule - CPR 40.12 - before having to ask for interest as of right.
Denning
 
Posts: 553
Joined: Thu Nov 15, 2012 4:41 am

Re: Interest on settlement

Postby atticus » Thu Feb 19, 2015 9:27 pm

An agreement to accept £x in full and final settlement is one thing.

An agreement to accept £x and interest at y rate from z date in full and final settlement is another.

You know which of the two it was.
User avatar
atticus
 
Posts: 19183
Joined: Sun Nov 11, 2012 2:27 pm
Location: E&W

Re: Interest on settlement

Postby Slartibartfast » Thu Feb 19, 2015 11:26 pm

Reco wrote:I settled a PI claim using a Tomlin consent order after a 6 year battle in court (and some great help from members here thanks again)


Can't help with your legal query, but thank you for the above. It's good to be reminded that we do sometimes help people.
"Judicial tergiversation is not to be encouraged"
User avatar
Slartibartfast
 
Posts: 3745
Joined: Thu Nov 01, 2012 5:06 pm

Re: Interest on settlement

Postby Reco » Thu Sep 10, 2015 1:52 pm

Thanks for replies. I've been distracted.
I was in touch with the court and the DJ who managed the case has retired.
The court was locked out of my file and the papers in the case destroyed.

They have asked me to supply any copy Orders I have etc.
I intend to have a word with the defendant's insurer as suggested.

The agreement was damages and reasonable costs....mention of interest was not made.
I also feel that the costs offer I accepted was not reasonable but guess I just got to live with that one.

Thanks Guys
Reco
 
Posts: 24
Joined: Mon Feb 10, 2014 6:34 pm

Re: Interest on settlement

Postby dls » Thu Sep 10, 2015 2:05 pm

Interest can mean different things.

In a personal injury case the amount due is not fixed until the order is made. The general damage figure cannot have interest before judgment.

As to interest after the judgment is entered, I suspect that interest may be automatic - otherwise there would never be any particular inventive to pay.

Worth asking.
David Swarbrick (Admin) dswarb@gmail.com - 0795 457 9992
User avatar
dls
Site Admin
 
Posts: 12007
Joined: Thu Nov 01, 2012 1:35 pm
Location: Brighouse, West Yorkshire

Re: Interest on settlement

Postby atticus » Thu Sep 10, 2015 2:14 pm

I think that Judgments for £5,000 or more automatically carry a right to interest at judgment rate (8%).

Judgments below £5K - no interest.
User avatar
atticus
 
Posts: 19183
Joined: Sun Nov 11, 2012 2:27 pm
Location: E&W

Re: Interest on settlement

Postby Reco » Thu Sep 10, 2015 2:31 pm

It was 15k and then 1.5k costs. I was recovering from a stroke when I agreed the costs figure

Six years from incident to the claim being stayed

Thanks again Guys
Reco
 
Posts: 24
Joined: Mon Feb 10, 2014 6:34 pm


Return to Costs

Who is online

Users browsing this forum: No registered users and 1 guest