The Panel's approach to cost disputes
In November 2024, Vital Limited (Vital) sought a reimbursement determination under section 49(2)(b) of the Takeovers Act 1993 in respect expenses incurred in response to the takeover notices issued to Vital by Empire Technology Limited (Empire). The Panel released its Determination, Orders and Statement of Reasons on 13 March 2025 (the Determination, available here).
Empire has appealed aspects of the Determination to the High Court. After that matter is resolved, the Panel may consider updates to it Costs Guidance Note to reflect its approach in the Determination. In the meantime, parties should read the current Costs Guidance Note and the Determination together.
