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Court of Appeal: (i) allows appeal in part and overturns decision of the High Court to award exemplary or punitive damages in favour of the first named respondent, on the grounds that: (a) no basis was established which would warrant an award of exemplary damages calculated to punish the appellant for its failure to perform the contract in question or the mode or tenor of its conduct of the litigation before the Court; (b) the award of punitive damages arising from the cross-examination and the conduct of the defence in court must be set aside as trenching on the constitutional rights of the appellant; and (c) the cross-examination never exceeded at any time the bounds of fairness or professionalism and was throughout a proper use in the cross-examiner’s task; and (ii) dismisses all other aspects the appeal and affirms decision of the High Court granting specific performance of an agreement for the release and discharge by the appellant of all indebtedness and securities over certain assets of the respondents in accordance with a settlement agreement, granting a declaration that a purported notice of termination of settlement was invalid and dismissing a counterclaim of the second respondent, on the grounds that there was clear evidence to support the trial judge’s findings.
Whelan J (nem diss): Settlement agreement - breach of contract - banking law - decision to grant a non-suit - appeal of a decision granting specific performance of an agreement for the release and discharge by the appellant of all indebtedness and securities over certain assets of the respondents in accordance with an agreement determined to have been evidenced in writing by email dated 20th June, 2017 - a purported notice of termination of a 2014 settlement agreement served by the appellant on the first and second named respondents on the 7th September, 2017 was declared invalid - the High Court dismissed a counterclaim against the second-named respondent - €20,000 was awarded by way of exemplary or punitive damages in favour of the first named respondent - whether an email dated 20th June, 2017 amounted to a settlement agreement - whether there was a concluded and legally binding agreement - whether the trial judge applied the correct principles in determining the non-suit application - whether the trial judge was entitled to award exemplary or punitive damages - right to cross-examine - punitive damages are not in general available for breach of contract in this jurisdiction - appeal allowed in part - appeal allowed in relation to award of exemplary damages - balance of decision affirmed.
Note: This is intended to be a fair and accurate report of a decision made public by a court of law. Any errors should be notified to the editor and will be dealt with accordingly.
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