22 Feb 2007
Accident Compensation Corporation v Faalele
- Citation
- [2007] NZACC 38
- Court
- District Court
The Court is bound by the Court of Appeal's decision in Robinson that successive statutory interest provisions, including section 114 of the 2001 Act, authorise only simple interest; section 114 merely adopts the prescribed rate from the Judicature Act and does not import its discretionary power to award compound interest; therefore the Reviewer's award of compound interest was wrong and the appellant's primary decision awarding simple interest is reinstated.