In a recent decision, the Supreme Court held that claimants could not bring claims in unjust enrichment to recover compound interest on taxes paid under a mistake of law: Prudential Assurance Company Ltd v Commissioners for Her Majesty's Revenue and… Read more

The Court of Appeal has held that a defendant should have been ordered to pay enhanced interest on both damages and costs at the maximum rate of 10% above base rate where it failed to accept the claimant's Part 36… Read more

On 14 July the UK Competition Appeal Tribunal (CAT) issued its judgment in the damages claim brought by Sainsbury's against MasterCard. It held that certain interchange fees set by MasterCard were anti-competitive and awarded damages of £68.6m, plus interest. The decision… Read more

The Commercial Court has refused to award compound interest on sums in excess of US$1.5 billion paid away by the claimant bank as a result of a fraud: JSC BTA Bank v Ablyazov & ors [2013] EWHC 867 (Comm). The decision serves as… Read more

The House of Lords has held that compound interest is recoverable in a claim for restitution of money paid under a mistake of law and, although strictly obiter, indicated that it would be recoverable in principle in any claim in… Read more