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Legal Update

Claimant denied costs benefits as it only beat Part 36 offer due to Brexit exchange rate drop

October 2016
Mayer Brown Legal Update
In Novus Aviation Ltd v Alubaf Arab International Bank BSC(c)1, the successful claimant, Novus Aviation Ltd (the "Claimant"), was denied the beneficial costs consequences that can accompany beating a Part 36 offer because it beat its offer only due to the fact that the judgment was delivered a week after the UK’s referendum on its membership of the European Union, the outcome of which caused the value of sterling to fall sharply against the dollar.

Authors

  • Edmund Sautter
    T +44 20 3130 3940
  • Zahra-Rose Khawaja
    T +44 20 3130 3914

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