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…