26 Mar 2013
COCKBURN & ORS V CS DEVELOPMENT NO 2 LIMITED COA CA297/2011
- Citation
- COA CA297/2011
- Court
- Court of Appeal
The Court held there was a proper basis to award interest as equitable damages under s16A (and alternatively under contractual principles) because commercial parties entering the contract could reasonably have contemplated that failure to supply a correct tax invoice would prevent the purchaser obtaining a GST credit and so cause pecuniary loss; the respondent proved the loss with uncontradicted affidavit evidence of borrowing and timing; the appropriate interest period was adjusted to run from 31 May 2008 to 20 December 2010 and the quantum was reduced accordingly to NZD 104,987.34.