(Second Division)
Held: Interest from a date earlier than the date of decree could be allowed on damages awarded for loss suffered before that date only where such loss could be definitely ascertained. Interest on solatium (being ascertainable not earlier than the award having been made in the court of first instance) was not payable from any date earlier than that court’s decree. The exercise of the discretion in respect of interest required a selective and discriminating approach, with lower interest rates applied.
Judges:
Lord Patrick (Lord Justice Clerk Thomson dissenting)
Citations:
1961 SC 68
Statutes:
Interest on Damages (Scotland) Act 1958 1
Cited by:
Cited – 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.
Scotland, Damages
Updated: 04 May 2022; Ref: scu.444293