Calogeras & Master Supplies Inc. v. Ceres Hellenic Shipping Enterprises Ltd.

In Admiralty Practice, Judgments and Enforcement of Judgments on (Updated )

The plaintiff had obtained a judgment against the defendant for $100,000 plus interest and a costs award of approximately $35,000. The defendant had also been awarded costs in the amount of approximately $160,000 from the date of an offer it had made and had been given the right to set-off its costs award against amounts owing to the plaintiff. The defendant now applied for a partial stay of execution of the judgment to protect its right of set-off.

Decision: Application dismissed.

Held: The Court rejected the defendant’s application on the grounds that it could have exercised its right of set-off earlier but did not do so.