Motto v Trafigura dead, long live Simcoe v Jacuzzi UK Group
Those holding their breath for the Court of Appeal to rule on the date from which interest runs, in the case of Motto v Trafigura, needn’t have bothered. The parties have compromised the case and the appeal will not go ahead.
However, all is not lost. The Court was due to hear another case on the same issue on the same date (30/1/12), Simcoe v Jacuzzi UK Group plc, and that appeal remains live. Simcoe concerns interest in the County Court, rather than interest in the High Court (as in Motto), and the rules are somewhat different between the two courts. However, it can be anticipated that the judgment will be wide enough to provided clarity across the board.