Permanent Custodians Limited v Geagea (No 3) [2014] NSWSC 1489

Permanent Custodians Limited v Geagea (No 3) [2014] NSWSC 1489

Damages awarded for breach of warranty of authority are not subject to apportionment under Part 4 of the Civil Liability Act 2002 and must be reduced by any settlement amounts, with interest calculated at the Reserve Bank rate plus 1%.

Jurisdiction
Australia
Judgment Date
30 October 2014
Procedural Posture
Consequential Orders (other Than Costs) / Post Judgment Orders Following a Liability Judgment
Outcome
Plaintiff to provide Short Minutes of Order to reflect judgment. Damages are not subject to apportionment and will be reduced by settlement with first to third defendants. Pre-judgment interest awarded at Reserve Bank rate plus 1%.
Legal Topics
['costs' 'proportionate Liability' 'calculation of Damages' 'offer of Compromise']
['common Law'] ['costs' 'proportionate Liability' 'calculation of Damages' 'offer of Compromise']

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Procedural Posture

Consequential Orders (other Than Costs) / Post Judgment Orders Following a Liability Judgment

Legal Issues

  1. 1 ['Whether damages awarded should be subject to apportionment under Part 4 of the Civil Liability Act 2002 when proceedings involve both apportionable and non-apportionable claims' 'Appropriate calculation and reduction of damages based on prior settlements' 'Entitlement to indemnity costs in light of offers to settle']

Ratio Decidendi

Damages awarded for breach of warranty of authority are not subject to apportionment under Part 4 of the Civil Liability Act 2002 and must be reduced by any settlement amounts, with interest calculated at the Reserve Bank rate plus 1%.

Court Disposition

Plaintiff to provide Short Minutes of Order to reflect judgment. Damages are not subject to apportionment and will be reduced by settlement with first to third defendants. Pre-judgment interest awarded at Reserve Bank rate plus 1%.

Orders

  • ['Plaintiff to provide Short Minutes of Order in accordance with judgment and calculations.' 'Damages to be reduced by $300,000 (settlement amount with first to third defendants).' 'Pre-judgment and post-judgment interest to run at Reserve Bank rate plus 1%.' 'No order for indemnity costs.']