Welcocks Skip Hire Ltd v Network Rail  UKUT 0162
In a decision dated 17 July 2019 the Upper Tribunal (Lands Chamber) has awarded compensation in excess of £8,000,000 to a claimant company whose waste transfer business was extinguished by Network Rail’s Thameslink 2000 Scheme.
Welcocks Skip Hire Ltd was established by its owners, Mr Roy Welsh and Frank Cocks, during the 1970s. In 1990 the company moved to Bolina Road in Bermondsey, where it operated a waste transfer station, skip hire and recycling station.
The company’s premises were acquired by Network Rail in June 2012 pursuant to the Network Rail (Thameslink 2000) Order 2006, causing the business to be extinguished.
There was a significant disagreement between the parties regarding the losses suffered by the company, including losses in the shadow period and the value of the extinguished commercial enterprise.
The Tribunal determined the Reference following a week long hearing in January 2019 which involved extensive scrutiny of trade and financial data, with detailed examination of the parties’ respective forensic accountants and specialist waste industry experts.
The Tribunal ultimately awarded compensation in the sum of £7,581,636 for the value of the business, and a total award of £8,140,023.37 plus statutory interest.
Alexander Booth QC was instructed by Squire Patton Boggs, representing the Claimant, Welcocks Skip Hire Ltd