28 Jun 1979
FARGO SHIPPING CO S.A. v. HWA HAUR TRADING (HONG KONG) CO (A FIRM)
- Citation
- FARGO SHIPPING CO S.A. v. HWA HAUR TRADING (HONG KONG) CO (A FIRM)
- Court
- Court of First Instance
- Case number
- HCA1959/1978
The court held that interest on a judgment in foreign currency is to be calculated by reference to commercial rates prevailing locally for that currency and, applying that principle, awarded interest on US$23,400 at the three-month deposit rate of 4% from 17 February 1978 to 23 May 1979; the objection to late evidence was rejected and no order as to costs was made.