Wed06282017

Last updateTue, 24 Feb 2015 5pm

REMOTENESS: The primrose path

17 February 2017  

Michael Ward reflects on recovery under cross-undertakings in freezing injunction cases

Cross-undertakings in damages (CUDs) are given by an applicant for a freezing injunction, and are designed to protect the respondent from loss arising from the injunction. Inquiries into calculating such loss are typically complex and expensive pieces of litigation. Further, they can result in significant awards; in the recent case of Fiona Trust and Holding Corporation v Privalov [2016] Males J awarded approximately $60m for lost profits.

Additional Info

  • Case(s) Referenced:

    C Czarnikow Ltd v Koufos [1967] UKHL 4

    Fiona Trust and Holding Corporation v Privalov & ors [2016] EWHC 2163 (Comm)

    Hadley v Baxendale [1854] EWHC J70

    Hone & ors v Abbey Forwarding Ltd & anor [2014] EWCA Civ 711

    Transfield Shipping Inc v Mercator Shipping Inc [2008] UKHL 48

    Wellesley Partners LLP v Withers LLP [2015] EWCA Civ 1146