Measure of indemnity II - Interest and costs

(Quorum AS v Schramm (No 2) [2002] Lloyd’s Rep IR (forthcoming))

The decision of Thomas J in ( Quorum AS v Schramm (No 1) ) led to a sequel, ( Quorum AS v Schramm (No 2) [2002] Lloyd’s Rep IR (forthcoming)), which raised points of law of general significance concerning the manner in which interest is to be assessed and costs are to be awarded. The case affirms the general principles that interest runs from the outset and that the winning party is entitled to costs, but notes a number of variations from those principles.