A party kept out of money by an interlocutory order is entitled to just compensation measured by a commercial rate of interest, not the profits of speculative currency transactions or other investments it might have made. The party giving the usual undertaking as to damages is not the insurer of speculative profits. The contractual remoteness principles from Hadley v Baxendale provide at most a guide, not a rigid rule, for assessing compensation under an undertaking. Knowledge of the possible loss must exist at the date of the undertaking.
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