Wong v State Street Global Advisors Australia Limited and Anor [2004] NSWIRComm 273

Wong v State Street Global Advisors Australia Limited and Anor [2004] NSWIRComm 273

Because the employer terminated the employment without notice and the contract was varied to require vesting of shares and options that would have vested during the notice period, justice required the money orders to reflect the value of those shares and options from the date the employment relationship ended; interest therefore ran from termination. Costs of the applicant's successful motions followed the event, while the applicant bore the costs of the respondents' successful video link motion. The applicant bettered the second and third Calderbank offers, the redundancy policy should have been discovered and was known to the respondents, and the respondents acted unreasonably in...

Jurisdiction
Australia
Judgment Date
17 September 2004
Procedural Posture
Application Under Section 106 of the Industrial Relations Act 1996 / Judgment on Interest and Costs Following Earlier Judgment Varying the Employment Contract and Making Money Orders
Outcome
Respondents ordered to pay the applicant the agreed monetary amount plus interest; respondents to pay the applicant's costs except for the respondents' video link motion; indemnity costs awarded from 3 June 2004.
Legal Topics
['unfair Contract of Employment' 'interest on Monetary Orders' 'calderbank Offers' 'indemnity Costs' 'costs of Motions' 'discovery' 'video Link Evidence']
['industrial Relations' 'employment Law' 'costs'] ['unfair Contract of Employment' 'interest on Monetary Orders' 'calderbank Offers' 'indemnity Costs' 'costs of Motions' 'discovery' 'video Link Evidence']

Case Brief

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Procedural Posture

Application Under Section 106 of the Industrial Relations Act 1996 / Judgment on Interest and Costs Following Earlier Judgment Varying the Employment Contract and Making Money Orders

Legal Issues

  1. 1 ['Whether interest on the agreed value of shares and options should run from the date of termination or from the dates on which the shares and options would have vested.' 'Who should bear the costs of various motions filed during the proceedings.' 'Whether the respondents should pay indemnity costs because the applicant bettered Calderbank offers made before trial.']

Ratio Decidendi

Because the employer terminated the employment without notice and the contract was varied to require vesting of shares and options that would have vested during the notice period, justice required the money orders to reflect the value of those shares and options from the date the employment relationship ended; interest therefore ran from termination. Costs of the applicant's successful motions followed the event, while the applicant bore the costs of the respondents' successful video link motion. The applicant bettered the second and third Calderbank offers, the redundancy policy should have been discovered and was known to the respondents, and the respondents acted unreasonably in...

Court Disposition

Respondents ordered to pay the applicant the agreed monetary amount plus interest; respondents to pay the applicant's costs except for the respondents' video link motion; indemnity costs awarded from 3 June 2004.

Orders

  • ['The respondents are to pay the applicant $664,155.15 plus interest to the date of this judgment.' 'Interest to the date of the July judgment is assessed as $197,026.62.' 'The respondents are to pay interest from the date of the July judgment to the date of this judgment, calculated on the same basis.' "The...