This appeal raises a straightforward but important point concerning the interest that the court may award when a claimant's CPR Part 36 offer is rejected, but the claimant achieves a greater award at trial. The claimant, OMV Petrom SA ("Petrom"), made a Part 36 offer on 9th April 2014 offering to settle the litigation for US$35 million inclusive of interest together with costs. The defendant, Glencore International AG ("Glencore"), did not respond to or accept that offer or make any counter-offer. Instead, Glencore defended the claim up hill and down dale at a lengthy trial that began on 20th January 2015, after it had been adjourned from its original 6th May 2014 start date. On 13th March 2015, the judge, Mr Justice Flaux (as he then was), handed down his judgment awarding Petrom damages (without interest) in the sum of US$40,071,913. According to the judge in his judgment on interest delivered on 26th March 2015, Petrom's case on liability "rested in large measure on the evidence of witnesses who were liars and Glencore put Petrom through the hoops of having to establish liability, in a very flagrant case of fraud, in a manner which was wholly unreasonable"....