Main-Line Corp v UOB & First Currency Choice: Interest & Costs

In Main-Line Corporate Holdings Ltd v United Overseas Bank Ltd and First Currency Choice Pte Ltd, the High Court of Singapore addressed the issues of pre-judgment interest and costs following an assessment of damages for patent infringement. The court considered offers to settle made by the defendants and the conduct of the parties in determining the appropriate orders for interest and costs. The court ordered UOB to pay interest at 5.33% per annum on the interim payment amount from 16 July 2008 to 2 February 2010. The court ordered that the interest in FCC’s case should accrue at 5.33% per annum on the judgment sum of S$4.795m from 16 July 2008 to 10 June 2016. There was no order as to costs between the Plaintiff and FCC.

1. Case Overview

1.1 Court

High Court of the Republic of Singapore

1.2 Outcome

Orders made regarding pre-judgment interest and costs for both defendants, considering offers to settle and conduct of the parties.

1.3 Case Type

Intellectual Property

1.4 Judgment Type

Supplemental Judgment

1.5 Jurisdiction

Singapore

1.6 Description

Judgment on interest and costs following assessment of damages for patent infringement. Court addresses offers to settle and pre-judgment interest.

1.7 Decision Date

2. Parties and Outcomes

Party NameRoleTypeOutcomeOutcome TypeCounsels
United Overseas Bank LtdDefendantCorporationPartialPartial
Main-Line Corporate Holdings LtdPlaintiffCorporationPartialPartial
First Currency Choice Pte LtdDefendantCorporationPartialPartial

3. Judges

Judge NameTitleDelivered Judgment
Tay Yong KwangJudge of AppealYes

4. Counsels

Counsel NameOrganization
Leonard LohTan Kok Quan Partnership
Eddee NgTan Kok Quan Partnership
Sherlene GohTan Kok Quan Partnership
Wong Siew HongEldan Law LLP
Regina LimEldan Law LLP
Gavin FooEldan Law LLP
Oh Pin-PingBird & Bird ATMD LLP
Alban KangBird & Bird ATMD LLP

4. Facts

  1. Main-Line Corporate Holdings Ltd sued United Overseas Bank Ltd and First Currency Choice Pte Ltd for patent infringement.
  2. The court previously delivered a judgment on damages.
  3. The current judgment addresses interest and costs following the assessment of damages.
  4. UOB made an interim payment of S$1,962,424.30 to the Plaintiff.
  5. Three Offers to Settle were served on the Plaintiff.
  6. The Plaintiff did not accept the Offers to Settle.
  7. The Joint OTS was withdrawn just before the Assessment Hearing.

5. Formal Citations

  1. Main-line Corporation v United Overseas Bank Ltd and another, Suit No 806 of 2004 (Assessment of Damages No 23 of 2016), [2017] SGHC 27
  2. First Currency Choice Pte Ltd v Main-Line Corporate Holdings Ltd and another appeal, , [2008] 1 SLR(R) 335
  3. Main-line Corporation v United Overseas Bank and another, , [2016] SGHC 285

6. Timeline

DateEvent
Suit filed (Suit No 806 of 2004)
Court of Appeal judgment in First Currency Choice Pte Ltd v Main-Line Corporate Holdings Ltd and another appeal
Plaintiff provided notice of election for an account of profits to UOB
UOB sent cheque for interim payment to Plaintiff
UOB served Offer to Settle on Plaintiff
FCC served Offer to Settle on Plaintiff
UOB and FCC served Joint Offer to Settle on Plaintiff
UOB and FCC withdrew Joint Offer to Settle
Judgment on damages delivered
Hearing on interest and costs
Supplemental judgment issued

7. Legal Issues

  1. Pre-judgment Interest
    • Outcome: The court determined the dates for commencement and termination of pre-judgment interest for both defendants, considering the notice of election of remedy and the offers to settle.
    • Category: Substantive
  2. Costs
    • Outcome: The court made orders regarding costs, considering the offers to settle and the conduct of the parties. The Plaintiff was awarded costs on a standard basis against UOB for a certain period, while UOB was awarded costs on a standard and indemnity basis for other periods. There was no order as to costs between the Plaintiff and FCC.
    • Category: Procedural
  3. Offers to Settle
    • Outcome: The court considered the offers to settle made by the defendants in determining the appropriate orders for interest and costs.
    • Category: Procedural

8. Remedies Sought

  1. Interest
  2. Costs

9. Cause of Actions

  • Patent Infringement

10. Practice Areas

  • Commercial Litigation
  • Intellectual Property Litigation

11. Industries

  • No industries specified

12. Cited Cases

Case NameCourtAffirmedCitationJurisdictionSignificance
Main-line Corporation v United Overseas Bank and anotherHigh CourtYes[2016] SGHC 285SingaporeThe judgment on damages is heavily relied upon as the basis for determining the appropriate interest and costs orders.
First Currency Choice Pte Ltd v Main-Line Corporate Holdings Ltd and another appealCourt of AppealYes[2008] 1 SLR(R) 335SingaporeCited to establish the starting point for the period to which any costs orders would relate.

13. Applicable Rules

Rule Name
O22A r 3(1) of the ROC
O 22A r 9(3) of the ROC

14. Applicable Statutes

Statute NameJurisdiction
Rules of Court (Cap 322, R 5, 2014 Rev Ed)Singapore

15. Key Terms and Keywords

15.1 Key Terms

  • Pre-judgment interest
  • Offers to settle
  • Interim payment
  • Indemnity costs
  • Standard costs
  • Assessment hearing
  • Account of profits

15.2 Keywords

  • patent infringement
  • interest
  • costs
  • offer to settle
  • Singapore
  • High Court

17. Areas of Law

Area NameRelevance Score
Offer to Settle95
Costs90
Interest90
Damages Assessment85
Civil Practice75

16. Subjects

  • Intellectual Property Law
  • Civil Procedure
  • Costs
  • Damages