29 Feb 2012
HERBERT CONSTRUCTION COMPANY LIMITED V P I ALEXANDER, B E ALEXANDER, M J MOLLIER AND MP WARD HC NAP CIV-2011-441-500
- Citation
- openlaw-b0951aad_e573_4ef8_ba98_a90f94b30c39.pdf
- Court
- High Court
The court held the parties' contractual default interest clause (14.7) applied and awarded interest at 22.25% per annum compounded monthly; the plaintiff was entitled under s23 Construction Contracts Act 2002 to recover actual and reasonable legal costs of recovery, but the claimed $24,046.65 was excessive and reduced to $15,000 plus $884.50 for instructing solicitor and approved disbursements.