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Braspetro Oil Services Co AndAnother -v- FPSO Construction Inc And Another

12th Jun 2007

[2007] 2 All ER (Comm) 924

Simon Picken QC led John Bignall and Josephine Higgs – Interest – Damages – Commercial Cases – Appropriate rate of interest on damages – Case involving foreign currency

At a hearing on 29 September 2005 following the Preliminary Issues judgment the Court gave directions for a full trial to determine what sums were ‘in fact’ due to Brasoil under the Side Letter Agreements and what other sums Brasoil was entitled to recover in restitution and/or on other bases (i.e. where there was no relevant Side Letter Agreement or where the payment made by Brasoil exceeded the value of the particular Side Letter Agreement).