The pursuers sought damages arising from a fire on their oil rig. The principal damages had been agreed, but the parties disputed the calculation of interest, the defenders saying that interest was due only on elements quantifiable before the date of the decree, and that the current interest rate provided, of 8% was excessive and would return a profit rather than compensation for losses.
Judges:
Lord Eassie, Lord Mackay of Drumadoon, Lord Marnoch
Citations:
[2013] ScotCS CSIH – 9, 2013 SC 302, 2013 SLT 421, [2013] CSIH 9, 2013 GWD 9-194
Links:
Jurisdiction:
Scotland
Citing:
See Also – Farstad Supply As v Enviroco Ltd SCS 14-Sep-2011
(Outer House) The parties had settled a claim for the loss by fire of an oil rig supply vessel. The parties now disputed whether the settlement carries interest under the Act. The parties’ insurers were concerned that the interest rate awarded under . .
Lists of cited by and citing cases may be incomplete.
Damages
Updated: 21 July 2022; Ref: scu.471060