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Published on: 01 August 2024

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Crypto damages quantification—valuation at the date of breach or date of judgment?

In Southgate v Graham [2024] EWHC 1692 (Ch), the High Court considered an appeal from the County Court which, inter alia, questioned the correct date for assessing damages in a cryptocurrency loan dispute. At first instance, the County Court ruled that damages should be calculated by reference to the cryptocurrency’s fiat value as at the breach date. Given the cryptocurrency’s volatility, that approach would have produced a markedly lower award in fiat than if a later valuation point were used. The High Court allowed the appeal on the valuation-date issue and directed a further hearing to determine the appropriate date. Dan Wyatt and Christopher Whitehouse, partner and senior associate at RPC, examine the quantification of crypto damages in Southgate v Graham. See News Analysis: Crypto damages quantification—valuation at the date of breach or date of judgment?...

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