Lymlind Pty Ltd & Ors v Parianos, G. & Ors [1995] FCA 552

Lymlind Pty Ltd & Ors v Parianos, G. & Ors [1995] FCA 552

The deeds treated the loan or advance as having been made on 20 May 1989, and even if the applicants' recovery were confined to restitution rather than contract, the cause of action in restitution arose on 20 May 1989. Accordingly, pre-judgment interest should be calculated from 20 May 1989.

Jurisdiction
Australia
Judgment Date
12 July 1995
Procedural Posture
Judgments and Orders Concerning Pre Judgment Interest / Reasons for Judgment (no. 2) on the Date From Which Interest Payable After Earlier Reasons for Judgment
Outcome
Pre-judgment interest is to be calculated from 20 May 1989.
Legal Topics
['pre Judgment Interest' 'federal Court of Australia Act 1976 S51 A' 'date Cause of Action Arose' 'loan Deed' 'unjust Enrichment']
['judgments and Orders' 'contract' 'restitution'] ['pre Judgment Interest' 'federal Court of Australia Act 1976 S51 A' 'date Cause of Action Arose' 'loan Deed' 'unjust Enrichment']

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Procedural Posture

Judgments and Orders Concerning Pre Judgment Interest / Reasons for Judgment (no. 2) on the Date From Which Interest Payable After Earlier Reasons for Judgment

Legal Issues

  1. 1 ['Whether pre-judgment interest on the amount ordered to be paid should be calculated from 20 May 1989 or 25 May 1989.' "Whether the availability of the applicants' claim in restitution rather than contract made a material difference to the date from which interest should be calculated under s.51A of the Federal Court of Australia Act."]

Ratio Decidendi

The deeds treated the loan or advance as having been made on 20 May 1989, and even if the applicants' recovery were confined to restitution rather than contract, the cause of action in restitution arose on 20 May 1989. Accordingly, pre-judgment interest should be calculated from 20 May 1989.

Court Disposition

Pre-judgment interest is to be calculated from 20 May 1989.

Orders

  • ['Pre-judgment interest is to be calculated from 20 May 1989.']