BETTER MARINE INTERNATIONAL LTD v. ZHONG SHAN CO LTD

HCA 958/2014

IN THE HIGH COURT OF THE

HONG KONG SPECIAL ADMINISTRATIVE REGION

COURT OF FIRST INSTANCE

ACTION NO 958 of 2014

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A D D E N D U M

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1.  Since writing and handing down my judgment in the above case the plaintiff’s solicitors have written a letter dated 2 December 2016 enclosing their letter of 24 March 2015 containing a sanctioned offer under Order 22 of the Rules of the High Court which was sent to the defendant’s solicitors on the same date.

2.  I have carefully considered the content of both letters.  It is clear that the sanctioned offer put forward was more favourable to the defendant than the provisions of the judgment.  Accordingly the “sanction” offer “bites”.  It was a genuine effort by the plaintiff to settle the action and thus avoid considerable costs whilst at the same time securing for the plaintiff a reasonable sum in satisfaction of his claim.  The offer expired on 22 April 2015 the defendant having failed to accept it.

3.  It is appropriate therefore that I should give effect to the contents of para 6 of the letter of 2 December 2016 from the plaintiff’s solicitors.

4.  I therefore make the following Orders as an extension of para 87 of my judgment:‑

(1) The defendant will pay interest upon the judgment sum of €683,850 (or its Hong Kong dollar equivalent at the rate of exchange at the 10 March 2010) at the rate of 17.9 per cent per annum for the period from 22 April 2015 until 30 November 2016.

(2) The defendant will pay the plaintiff’s costs to be taxed on an indemnity basis with effect from 22 April 2016.

(3) The defendant will pay interest on those costs at the rate of 17.9 per cent per annum.

5.  I do not propose to set out the considerations which have guided me since they are well set out in para 7 of the same letter.

6.  In the event of the defendant seeking to raise any argument or submission regarding the above decision it must do so within seven days of this addendum i.e. by 14 December 2016, on which date it will become absolute.