Norsemeter Holdings AS v Pieter Boele [No. 3] [2002] NSWSC 390

Norsemeter Holdings AS v Pieter Boele [No. 3] [2002] NSWSC 390

Judgment for the plaintiff should be entered in the currencies in which losses were suffered (SEK for principal, NOK for costs), with interest calculated at the Norwegian rates applicable to those currencies until the date specified, as this accurately compensates for the wrongs suffered and aligns with the principles established in precedent; there is no prohibition against judgments in multiple currencies under these circumstances.

Jurisdiction
Australia
Judgment Date
01 May 2002
Procedural Posture
Judgment / Final Judgment
Outcome
Judgment for the plaintiff in the amounts of SEK 10,265,643.70 and NOK 2,026,478.76
Legal Topics
['enforcement of Foreign Judgments' 'currency for Judgment' 'interest Calculation']
['enforcement of Judgments'] ['enforcement of Foreign Judgments' 'currency for Judgment' 'interest Calculation']

Case Brief

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Procedural Posture

Judgment / Final Judgment

Legal Issues

  1. 1 ['Whether judgment should be entered in Australian currency or foreign currency' 'Whether judgment should be entered in multiple foreign currencies' 'Time and calculation of interest payable on the foreign judgment']

Ratio Decidendi

Judgment for the plaintiff should be entered in the currencies in which losses were suffered (SEK for principal, NOK for costs), with interest calculated at the Norwegian rates applicable to those currencies until the date specified, as this accurately compensates for the wrongs suffered and aligns with the principles established in precedent; there is no prohibition against judgments in multiple currencies under these circumstances.

Court Disposition

Judgment for the plaintiff in the amounts of SEK 10,265,643.70 and NOK 2,026,478.76

Orders

  • ['Summary judgment in the amounts SEK 10,265,643.70 and NOK 2,026,478.76' 'Orders specified as: SEK 7,000,000 principal from 12 June 1998; SEK 3,265,643.70 interest on principal sum from 12 June 1998 to 30 April 2002; NOK 1,842,687 costs as ordered by the Bogarting Court of Appeal; NOK 177,503.76 interest on those...