Linjing Fang v Xiaodan Sun & Ors (No. 2) [2014] NSWSC 1194

Linjing Fang v Xiaodan Sun & Ors (No. 2) [2014] NSWSC 1194

Plaintiff entitled to indemnity costs for defendant's dishonest conduct, compound interest at RBA rate plus 4 per cent with yearly rests due to dishonest breach of fiduciary duty, and adjustment to judgment sum for admitted payment and conceded deduction.

Jurisdiction
Australia
Judgment Date
04 September 2014
Procedural Posture
Civil / Post Judgment, Further Orders on Costs, Interest and Adjustment to Principal Sum
Outcome
Indemnity costs awarded; compound interest up to judgment at RBA rate plus 4 per cent at yearly rests; principal judgment sum varied upward by $39,000 then reduced by $11,000, resulting in $682,850.
Legal Topics
['costs' 'indemnity Costs' 'interest Rates' 'compound Interest' 'adjustment of Judgment Sum' 'misleading and Deceptive Conduct' 'breach of Fiduciary Duty']
['equity' 'procedure'] ['costs' 'indemnity Costs' 'interest Rates' 'compound Interest' 'adjustment of Judgment Sum' 'misleading and Deceptive Conduct' 'breach of Fiduciary Duty']

Case Brief

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Procedural Posture

Civil / Post Judgment, Further Orders on Costs, Interest and Adjustment to Principal Sum

Legal Issues

  1. 1 ["Whether indemnity costs should be awarded to the plaintiff due to defendant's misconduct" 'Appropriate rate and type (compound/simple) of interest for dishonest breach of fiduciary duty' 'Adjustment to principal judgment sum for additional advance and deduction']

Ratio Decidendi

Plaintiff entitled to indemnity costs for defendant's dishonest conduct, compound interest at RBA rate plus 4 per cent with yearly rests due to dishonest breach of fiduciary duty, and adjustment to judgment sum for admitted payment and conceded deduction.

Court Disposition

Indemnity costs awarded; compound interest up to judgment at RBA rate plus 4 per cent at yearly rests; principal judgment sum varied upward by $39,000 then reduced by $11,000, resulting in $682,850.

Orders

  • ['Vary the principal amount of judgment to $682,850.' 'Order the defendant to pay interest on $682,850 at the rate prescribed under Supreme Court Practice Gen. 16, compounded at yearly rests.' "Direct the plaintiff to provide a calculation of interest for the Court and defendant's consideration." "Order the...