Calculating Consequential Damages
Posted: October 11th, 2018, 8:48 am
Is there an agreed, standardised method of calculating consequential damages in a legal award?
I ask because,having recently secured a ruling in my favour against the actions of a firm of solicitors, I am in disagreement regarding the calculation of my claim for damages in respect of travel expenses and 'loss of investment.'
My travel sums are based on the HMRC, industry and legal-wide accepted figure of 45p per mile, which includes a calculated amount for fair,wear and tear for use of one's own vehicle.
The adjudicator has used a bizarre calculation based upon the average petrol price over the relevant six-month period, and the average mpg for the vehicle I made use of, with no depreciation allowance.
Similarly, my loss of investment was submitted on the basis of the accepted court award of 8%.
The adjudicator chose to search the investment market at the time and quoted on the basis of an available Savings Bond at the time of approx 1.5%.
If endorsed, then I am out of pocket due entirely to the rogue actions of a solicitor firm.
My question is: Can the adjudicator adopt their own criteria in deciding an amount, or should they endorse the accepted levels which I believe would be quoted in a formal court?
Any guidance greatly appreciated in advance.
I ask because,having recently secured a ruling in my favour against the actions of a firm of solicitors, I am in disagreement regarding the calculation of my claim for damages in respect of travel expenses and 'loss of investment.'
My travel sums are based on the HMRC, industry and legal-wide accepted figure of 45p per mile, which includes a calculated amount for fair,wear and tear for use of one's own vehicle.
The adjudicator has used a bizarre calculation based upon the average petrol price over the relevant six-month period, and the average mpg for the vehicle I made use of, with no depreciation allowance.
Similarly, my loss of investment was submitted on the basis of the accepted court award of 8%.
The adjudicator chose to search the investment market at the time and quoted on the basis of an available Savings Bond at the time of approx 1.5%.
If endorsed, then I am out of pocket due entirely to the rogue actions of a solicitor firm.
My question is: Can the adjudicator adopt their own criteria in deciding an amount, or should they endorse the accepted levels which I believe would be quoted in a formal court?
Any guidance greatly appreciated in advance.