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- Satinder Hunjan QC in settlement involving discount rate in foreign jurisdictions
Satinder Hunjan QC in settlement involving discount rate in foreign jurisdictions
Satinder Hunjan QC has secured a multi-million pound settlement on behalf of a catastrophically brain injured young man who suffered a road traffic accident in central London. He was originally from Colombia and was in London to undertake an MBA.
Of particular interest is that it was argued on behalf of the Claimant that insofar as any losses arose in Colombia a different discount rate should apply in view of the different economic conditions and prospects there. The argument was supported by leading experts; an actuary and an economist and upon the basis of their evidence a discount rate of minus 2.5% was advanced which produced multipliers significantly higher than those which would be applied in the UK.
In all claims where some of the losses may arise in the future in a foreign jurisdiction it will be important to consider what the appropriate discount rate for that jurisdiction is and the evidence in support carefully considered and managed.