Summary

On 11 April 2022 I handed down judgment dismissing the Banks' applications for permission to amend the Particulars of Claim to allege that the Respondents were precluded from challenging certain findings made in the LCIA Award and for a summary determination of the issues said to be covered by the arbitral findings in the Banks' favour.

I have now received written submissions from the parties on the costs orders which are to be made. I have taken the relatively unusual step of setting out my reasons for my costs orders in a reserved ruling, as the applications raise one issue of wider interest.

There is no dispute that the Respondents are the successful parties and are entitled to costs orders in their favour. There are two issues which arise:

i) whether any deduction should be made from the costs awards in the Respondents' favour to reflect legal arguments on which they did not succeed and/or criticisms made of their evidence; and

ii) the amount of the interim payments on account of costs.

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