New Zealand Case Law: Decisions & Judgments

Topic

Interest as damages

Legal area

Court

12 Jul 2022

TE RŪNANGA O NGĀI TAHU v ATTORNEY-GENERAL [2022] NZHC 1643

Citation

[2022] NZHC 1643
Court

High Court

Clause 10.5 preserved Ngāi Tahu's right to seek a High Court determination of interest; the arbitrator's declaratory awards that certain amounts were CRAs do not operate as accord and satisfaction or merger to extinguish the preserved claim for interest; clause 10.5 is reasonably interpreted to include interest as damages for loss of investment opportunity and to preserve that claim notwithstanding limitation defences, such that the defendant has not established lack of jurisdiction, a merits-free strike out, or that the claim is time-barred under s11 Limitation Act 2010; the defendant's appl…
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.
11 Jul 2012

ROBERT ARTHUR BELL V BDO SPICERS MANAWATU LIMITED HC WN CIV-2012-485-166

Citation

openlaw-185179f8_e616_449c_8412_4ebedbbe8f2d.pdf
Court

High Court

The court held that the parties, by their post-settlement conduct, mutually waived the contractual requirement that additional services be agreed in writing, creating an enforceable oral agreement for the additional work; therefore appellant was liable for the disputed invoices subject to admitted credits; however the contractual interest provision of 2% per month compounded was penal and was reduced to a fair rate of 15% per annum and respondent directed to recalculate interest and file corrected figures before sealing.
10 May 2011

CS DEVELOPMENT NO. 2 LIMITED V AJ COCKBURN AND JE COCKBURN AND KI JEFFERIES SUED AS TRUSTEES OF THE ALDWYN AND JANET COCKBURN FAMILY TRUST HC WN CIV-2009-485-587

Citation

openlaw-8c53879a_7dc8_4fe4_994c_1a87e21fbc27.pdf
Court

High Court

Interest was payable in principle as damages for the vendor's failure to deliver a correct GST invoice because such loss (inability to claim a tax credit) was reasonably foreseeable at contracting and thus recoverable under Hadley v Baxendale and the court's equitable powers; however, the precise start date and rate could not be determined on the material before the court and are reserved for determination after memoranda from the parties.
20 Aug 2010

TAWANUI DEVELOPMENTS LIMITED V D M HARNETT AND J C MALCOLM AND ANOR HC PMN CIV-2008-454-949

Citation

openlaw-cd7ebe61_9720_4d18_8913_6962c253a7f2.pdf
Court

High Court

The plaintiff is entitled to loss-of-bargain damages of $40,000 (contract price less current market value $160,000), interest as damages at a reasonable commercial rate of 8% p.a. (total $29,106.73 to date of judgment), recoverable pre-proceedings legal/conveyancing costs of $12,111.66 as reliance/wasted expenditure, and commission/advertising costs of $7,600; the defendants' wilful or reckless non-compliance justifies an award of indemnity costs but their quantum must be supported by detailed invoices and is to be fixed following directed memoranda; costs on applications awarded on a Categor…

New Zealand Case Law

TE RŪNANGA O NGĀI TAHU v ATTORNEY-GENERAL [2022] NZHC 1643

COCKBURN & ORS V CS DEVELOPMENT NO 2 LIMITED COA CA297/2011

ROBERT ARTHUR BELL V BDO SPICERS MANAWATU LIMITED HC WN CIV-2012-485-166

CS DEVELOPMENT NO. 2 LIMITED V AJ COCKBURN AND JE COCKBURN AND KI JEFFERIES SUED AS TRUSTEES OF THE ALDWYN AND JANET COCKBURN FAMILY TRUST HC WN CIV-2009-485-587

TAWANUI DEVELOPMENTS LIMITED V D M HARNETT AND J C MALCOLM AND ANOR HC PMN CIV-2008-454-949