The Isle of Man High Court has a wide discretion, which must be exercised judicially, in relation to the awarding of costs and the nature of any such award, within the context of interlocutory or concluded substantive proceedings. In the recent matter of The Petition of Vrinera Marine Company Limited Deemster Doyle gave further guidance as to the circumstances in which this discretion may be exercised.
The deemster made it clear that the court should not attempt to define, and thereby constrict, the exact circumstances within which costs on an indemnity basis may be ordered.
The court considered an application for indemnity costs against an unsuccessful party who had sought Mareva and related discovery-type relief, within the context of ongoing and significant proceedings both in the Isle of Man and elsewhere.
Read the full article: Court Analyses Criteria for Indemnity Costs