Michael Ward reflects on recovery under cross-undertakings in freezing injunction cases ‘If Transfield Shipping applies to cross-undertakings in damages (CUD) inquiries, it would raise the possibility in some cases of a claimed loss being foreseeable under the orthodox approach but still ultimately irrecoverable on remoteness grounds.’Cross-undertakings in damages (CUDs) are given by an applicant for …
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Wills & Trusts Law Reports | March 2015 #147W and the defendant embarked on a project with the aim of acquiring a substantial interest in an English company, TSE, which started with the acquisition of 125,000 TSE shares in 2002 (the first tranche). In 2003 they attempted to make additional acquisitions of TSE shares, such attempts involving three of W’s companies, including the plaintiff. The overall scheme was that funds would be provided by one company, Assanzon, for the acquisition of shares for another company, Momentum, which were held for its beneficial owners which were principally the plaintiff company, Libertarian. The fu...
