Black & Ors v Davies

Black & Ors v Davies

The court does not have jurisdiction to award compound interest in respect of a judgment for damages for deceit, as the equitable jurisdiction to award compound interest is limited to cases where money has been obtained and retained by fraud and there is a concurrent equitable claim, not to general damages for deceit at common law.

Parties
Claimant: Herbert Black; Claimant: American Iron & Metal Company Incorporated; Claimant: Lito Trade Incorporated; Defendant: Vivian John Davies
Jurisdiction
England and Wales
Judgment Date
22 June 2004
Procedural Posture
Civil / Post Trial Application on Interest Calculation
Outcome
Application for compound interest dismissed
Legal Topics
Compound Interest, Damages for Deceit, Equitable Jurisdiction
Civil Procedure Equity Tort Compound Interest Damages for Deceit Equitable Jurisdiction

Case Brief

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Parties

Herbert Black

Claimant

American Iron & Metal Company Incorporated

Claimant

Lito Trade Incorporated

Claimant

Vivian John Davies

Defendant

Procedural Posture

Civil / Post Trial Application on Interest Calculation

Legal Issues

  1. 1 Does the court have jurisdiction to award compound interest in respect of a judgment for damages for deceit?
  2. 2 If so, should the court exercise its discretion to do so on the facts of this case?

Ratio Decidendi

The court does not have jurisdiction to award compound interest in respect of a judgment for damages for deceit, as the equitable jurisdiction to award compound interest is limited to cases where money has been obtained and retained by fraud and there is a concurrent equitable claim, not to general damages for deceit at common law.

Court Disposition

Application for compound interest dismissed

Orders

  • No jurisdiction to award compound interest on judgment for damages for deceit
  • If jurisdiction had existed, compound interest would have been awarded from the appropriate date until payment, compounded yearly