New Zealand Case Law: Decisions & Judgments

Topic

Statutory interest

Legal area

Court

19 Jun 2020

FA’AGUTU v DERHAMY [2020] NZHC 1374

Citation

[2020] NZHC 1374
Court

High Court

The court accepted defendants' approach that the Primary Sum interest should be assessed by reference to the BNZ term deposit rates as the plaintiffs' real opportunity cost, compounded annually with rates specified for each year and calculated from 1 February 2015; the Secondary Sum (repayments kept by defendants) attracts simple interest at the maximum prescribed rate of 5% from 1 February 2015 on outstanding balances; post-judgment payments are to be applied first to interest, then principal (Primary Sum and general damages), and then to costs; costs awarded to plaintiffs totalled $45,607.7…
25 Oct 2019

DODDS v SOUTHERN RESPONE EARTHQUAKE SERVICES LIMITED [2019] NZHC 2741

Citation

[2019] NZHC 2741
Court

High Court

The judgment contained an accidental omission: the shortfall award was intended to reflect the true rebuilding estimate which included GST; correction under r 11.10 was appropriate to add GST to the $178,894.30 award and to the interest calculation because the loss arose from a representation based on estimates that included GST and the determination did not require further evidence.
12 May 2016

THE COMMISSIONER OF INLAND REVENUE v PALMER [2016] NZHC 966

Citation

[2016] NZHC 966
Court

High Court

Because the tax assessments underpinning the judgment are conclusive in the absence of an appeal or judicial review, the Court could not go behind the debt; Mr Palmer had not paid or extinguished the debt required for annulment under s 309(1)(b) of the Insolvency Act 2006, and statutory interest and charges could not be varied by the Court, the annulment application must be dismissed.
15 Apr 2016

BARTERCARD EXCHANGE LIMITED v ANTHONY HARRY DE VRIES [2015] NZHC 703

Citation

BARTERCARD EXCHANGE LIMITED v ANTHONY HARRY DE VRIES [2015] NZHC 703
Court

High Court

The bankruptcy notice was overstated and, although the debtor timely disputed the notice under s 30, the creditor failed to prove with sufficient evidence the precise allocation and amounts of payments (including payments by a co-guarantor) so as to permit correction under s 418; therefore the act of bankruptcy relied upon was not proved and, alternatively, the court exercised its discretion under s 37 to refuse adjudication; the adjudication application was dismissed.
2 Oct 2015

FOG v FRIMLEY ESTATE LIMITED [2015] NZHC 2247

Citation

[2015] NZHC 2247
Court

High Court

Frimley failed to discharge the onus under r 31.11 to show a strong prima facie case of a genuine dispute on substantial grounds; Asher J's findings establish clear liability and quantum for at least two of the three sums and quantum is not in genuine dispute; the appeal has weak prospects and does not warrant a stay; accordingly the stay application is declined and the s 241 liquidation application proceeds to substantive hearing.
26 Sept 2014

KAWARAU VILLAGE HOLDINGS LTD v NEO and ORS [2014] NZHC 2402

Citation

[2014] NZHC 2402
Court

High Court

Defendants second, third, fourth and fifth breached their sale and purchase agreements by failing to settle after receipt of settlement notices; plaintiff validly cancelled the contracts and is entitled to damages equal to the purchase price less deposits and the market value at cancellation, plus contractual penalty interest for the period between settlement date and cancellation and statutory interest under s 87 from cancellation to judgment, together with costs.
22 Aug 2013

BLANCHETT & MCCLOY v TE KOPUA INVESTMENTS LTD [2013] NZHC 2130

Citation

[2013] NZHC 2130
Court

High Court

The refund of $48,000 constituted "paying money" under s 292(3)(e) and, because Central Oil was unable to pay its due debts at the time, the transaction was an insolvent transaction under s 292(2) that enabled Te Kopua to obtain more than it would have in liquidation; accordingly the payment was set aside under s 294(5) and Te Kopua was ordered to repay the amount with statutory interest and costs.
17 Jul 2013

PETER MICHAEL ENGLAND v JAMES YEE [2013] NZHC 1801

Citation

[2013] NZHC 1801
Court

High Court

The Court ordered statutory interest under s 87 of the Judicature Act 1908 on $560,000 from 31 August 2012, refused the defendant's submission that costs should lie where they fall and awarded costs to the plaintiff on the 2B scale plus disbursements totalling $17,151.20, and amended the earlier judgment to reflect a $10,000 payment reducing the judgment sum to $720,000.
27 Jun 2011

PDL INTERNATIONAL PTE LTD V THE SHIP RATSTOR HC AK CIV-2011-404-3292

Citation

openlaw-111f6716_1e86_4ce3_972e_ebf88a4bf835.pdf
Court

High Court

The plaintiff satisfied the requirements of r 25.32(4) by proving service, filing a statement of claim and affidavit verifying the facts; the defendant did not appear and the plaintiff established entitlement on the balance of probabilities to US$45,975.59, therefore the court entered judgment by default, awarded statutory interest and costs.
28 Aug 2009

BOATSPRAY LIMITED V THE SHIP "SHENGALA" HC AK CIV-2009-404-002524

Citation

openlaw-60a13b1d_b92a_4c42_9008_9d1d5585ae2f.pdf
Court

High Court

Plaintiff discharged the onus for summary judgment: the assignment to Boatspray Limited was effective and the owner had notice by conduct and invoices; any oral estimate was superseded by changed work and additional instructions; claimed defects did not pass the credibility threshold and expert evidence supported the plaintiff; accordingly there was no arguable defence and summary judgment was entered for $29,765.55 plus statutory interest and costs (indemnity costs declined).