Judicial Commissioner Edward Timothy Starbuck Woolley recently ordered the execution of a settlement agreement in a legal case involving multiple parties.
The case pertained to three High Court actions involving a bank, an oil and gas company, and a security services company along with its guarantor.
The parties involved in the legal actions, along with Ravenguard Security Services, had been working towards a global settlement of all cases and related issues.
The terms of the agreement included one of the respondents (the bank or the oil and gas company) paying Ravenguard BND316,385.94 within 14 days and the applicant, BND60,000 as compensation for the external counsel costs incurred by the guarantor.
While the first payment was made ex gratia, the agreement remained unsigned due to a dispute regarding proof of expenditure for the latter sum. In response, proceedings were initiated to enforce the agreement’s terms.
After hearings in May and August, during which the parties failed to reach an agreement, Judicial Commissioner Woolley issued an order, which stated that the applicant should produce supporting documents or a statement from a law firm to prove the incurred legal costs of BND60,000 and the parties to execute the deed of settlement within 30 days.
It was ruled that the agreement covered all costs incurred in both actions and the order should include these costs.
The decision also allows for the parties to continue discussions about the documents’ adequacy as proof of costs.
The judicial commissioner ordered the costs of the appeal to be taxed, and the time for compliance with the order extended to 14 days from October, the date of the decision made. – Fadley Faisal
