Checchia v Insurance Australia Ltd t/as NRMA Insurance (No 3) [2014] NSWSC 1209

Checchia v Insurance Australia Ltd t/as NRMA Insurance (No 3) [2014] NSWSC 1209

Plaintiff is entitled to pre-judgment interest at 5% per annum for the period from 17 November 2006 to 26 March 2010, as the award compensates for deprivation of settlement monies, but at a reduced rate reflecting plaintiff's conduct and associated delay.

Source-derived case information.

Parties
Plaintiff: John Checchia; Defendant: Insurance Australia Ltd t/as NRMA Insurance
Jurisdiction
Australia
Judgment Date
02 September 2014
Procedural Posture
Notice of Motion for Variation of Orders on Pre Judgment Interest / Post Judgment, Consequential Orders
Outcome
Plaintiff's entitlement to pre-judgment interest clarified and order varied; each party to pay own costs for Notice of Motion.
Legal Topics
Pre Judgment Interest, Costs, Variation of Orders
Common Law Civil Procedure Pre Judgment Interest Costs Variation of Orders

Source-derived case record

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Parties

John Checchia

Plaintiff

Insurance Australia Ltd t/as NRMA Insurance

Defendant

Procedural Posture

Notice of Motion for Variation of Orders on Pre Judgment Interest / Post Judgment, Consequential Orders

Legal Issues

  1. 1 Entitlement to pre-judgment interest for period prior to part-payment
  2. 2 Appropriate rate and period for pre-judgment interest
  3. 3 Costs for Notice of Motion proceedings

Ratio Decidendi

Plaintiff is entitled to pre-judgment interest at 5% per annum for the period from 17 November 2006 to 26 March 2010, as the award compensates for deprivation of settlement monies, but at a reduced rate reflecting plaintiff's conduct and associated delay.

Court Disposition

Plaintiff's entitlement to pre-judgment interest clarified and order varied; each party to pay own costs for Notice of Motion.

Orders

  • Plaintiff is entitled to interest from 17 November 2006 to 26 March 2010 at the rate of 5% per annum.
  • Plaintiff is entitled on the motion to an order for interest in the amount of $114,840 for the period specified above by way of variation of the judgment delivered on 6 June 2014.