Lorebray Pty Ltd v Liddy (No 3) [2024] NSWSC 1257

Lorebray Pty Ltd v Liddy (No 3) [2024] NSWSC 1257

Where a pleaded claim for pre-judgment interest is raised in submissions but inadvertently overlooked by the court, r 36.16(1) UCPR empowers the court to vary the judgment to include such an order, and interest should run from the commencement of proceedings rather than the date of loan advances, considering delay and absence of early demand.

Parties
First Plaintiff: Lorebray Pty Ltd; Second Plaintiff: Peter John McNamee; Third Plaintiff: Stephen John McNamee; Fourth Plaintiff: John Christopher McNamee; Fifth Plaintiff: Philippa Margaret Hardy; First Defendant: Christine Liddy; Second Defendant: William John McNamee; Third Defendant: Sally-Jane Margaret Collignon
Jurisdiction
Australia
Judgment Date
08 October 2024
Procedural Posture
Equity Application to Vary Judgment / Post Judgment Variation Application
Outcome
Principal judgment varied; pre-judgment interest awarded; costs ordered in favour of plaintiffs.
Legal Topics
Judgments and Orders, Variation of Judgment, Pre Judgment Interest
Civil Procedure Equity Judgments and Orders Variation of Judgment Pre Judgment Interest

Case Brief

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Parties

Lorebray Pty Ltd

First Plaintiff

Peter John McNamee

Second Plaintiff

Stephen John McNamee

Third Plaintiff

John Christopher McNamee

Fourth Plaintiff

Philippa Margaret Hardy

Fifth Plaintiff

Christine Liddy

First Defendant

William John McNamee

Second Defendant

Sally-Jane Margaret Collignon

Third Defendant

Procedural Posture

Equity Application to Vary Judgment / Post Judgment Variation Application

Legal Issues

  1. 1 Whether jurisdiction to vary principal judgment is enlivened under r 36.16 UCPR
  2. 2 Whether power should be exercised to allow pre-judgment interest from date of loan advances or commencement of proceedings

Ratio Decidendi

Where a pleaded claim for pre-judgment interest is raised in submissions but inadvertently overlooked by the court, r 36.16(1) UCPR empowers the court to vary the judgment to include such an order, and interest should run from the commencement of proceedings rather than the date of loan advances, considering delay and absence of early demand.

Court Disposition

Principal judgment varied; pre-judgment interest awarded; costs ordered in favour of plaintiffs.

Orders

  • Principal judgment (Lorebray Pty Ltd v Liddy (No 2) [2024] NSWSC 1020) varied to include order that first defendant pay the first plaintiff interest pursuant to s 100 Civil Procedure Act 2005 (NSW) on the sums of $250,000 and $1,000,000 from 16 December 2019.
  • First defendant to pay the plaintiffs' costs of the notice of motion.