High Court guidance on pre-judgment interest rate and costs following Part 36 offer

Further to the High Court’s award of quantum meruit relief in H&P (Advisory) Ltd v Barrick Gold (Holdings) Ltd (read our article on the substantive judgment here), Deputy Judge Simon Gleeson handed down his subsequent ruling to settle the outstanding issues of expenses, pre-judgment interest and costs.

The dispute centred on H&P’s claim for over US$18 million in fees allegedly owed for advisory services rendered in connection with a merger between Barrick Gold Corporation and Randgold Resources Limited. The High Court’s comments on pre-judgment interest, the applicable duration of the interest period, and the operation of the Part 36 offer made are of wider interest.

For a detailed analysis of the decision on consequential matters, please read our full article here.