25 Jun 2008
The Court of Appeal in Robinson definitively determined that successive Accident Compensation interest provisions permit only simple interest; section 114 of the 2001 Act adopts the prescribed rate from the Judicature Act but does not permit compounding or import its discretionary principles, so compound interest is not authorised and the decision is binding on this case.
22 Feb 2007
The court held that amounts already received as WINZ benefits are deemed payments in respect of the ACC entitlement under s252 and therefore could not be late payments under s114; only the net sum after reimbursement to WINZ attracts interest under s114, compound interest is not payable, and the reviewer erred in denying review costs where the appellant acted reasonably.
13 Oct 2006
(1) CA15/05: Section 458(1998) limits the operation of s72(1992) so that s72 only requires payment of interest in respect of calculations made under the 1992 Act for the period 1 July 1992 to 1 July 1999; there is no statutory authority to pay interest for the pre-1 July 1992 period in the factual circumstances. The District Court could not substitute s62B(1) to bypass the ACC statutory scheme. (2) CA56/06: s72(1992) does not require or authorise the payment of compound interest; interest under s72 is simple interest at the prescribed rate.
12 Jan 2005
Leave was refused because the legal question was not capable of bona fide and serious argument; Judge Cadenhead correctly interpreted s.72 of the 1992 Act as providing for simple, not compound, interest and applicants merely re-argued settled law.