Guidance from the Supreme Court on liquidated damages
The Supreme Court provided some welcome clarification on the law relating to liquidated damages in the recent judgment of Triple Point Technology Inc (Respondent) v PTT Public Company Ltd (Appellant) (2021). In doing so, the Supreme Court concluded that the Court of Appeal’s ‘radical re-interpretation’ of the law on liquidated damages clauses was ‘inconsistent with commercial reality and the accepted function of liquidated damages’.