New Zealand Case Law: Decisions & Judgments

Topic

Judgment interest

Legal area

Court

30 Aug 2023

PGG WRIGHTSON REAL ESTATE LTD v ROUTHAN [2023] NZCA 405

Citation

[2023] NZCA 405
Court

Court of Appeal

Recall refused because appellant's non-disclosure was a considered strategic choice not a failure requiring recall, the Calderbank offers fell short of accrued entitlements and were not 'close' to the judgment under r14.11(4)(b), and no exceptional circumstances exist to justify disturbing the final judgment; costs order stands and appellant must pay costs of the recall application.
21 Mar 2019

MYALL v TOWER INSURANCE LIMITED [2019] NZHC 528

Citation

[2019] NZHC 528
Court

High Court

Absent an express contractual term, an insurer may not deduct use of money interest from interim payments made as present day value or voluntary advance payments; electing to cash settle within the policy does not eliminate the contractual condition that full replacement value is payable only after the insured has incurred the costs of replacement or repair; and a court declaration of the amount representing full replacement value is not a judgment debt for interest purposes until the insured has incurred the qualifying costs.
13 Dec 2016

ZHANG v KING DAVID INVESTMENTS LTD (IN LIQ) & ANOR [2016] NZHC 3018

Citation

[2016] NZHC 3018
Court

High Court

The consent orders were valid and will not be set aside; Hsiang-Fen Ying deliberately breached the clear consent order by selling the property and therefore committed civil contempt; Jinyue Young did not personally commit contempt though his conduct raises professional concerns; appropriate relief is monetary compensation to the plaintiff from funds paid into Court, variation of the consent orders to remove the transfer obligation, discharge of an irrelevant freezing order, indemnity costs and a pecuniary penalty of NZD 10,000 on Ying with a 20-day imprisonment contingency if unpaid.
21 Apr 2010

SOUTHLAND BUILDING SOCIETY V FAWCETT HC HAM CIV-2009-419-000720

Citation

openlaw-c0e95ce6_75aa_4cd4_bbfa_a29bbe888cdd.pdf
Court

High Court

Given limited evidence and the plaintiff's provided actual bank interest rate, the court accepted 6.95% as the appropriate interest rate and awarded interest of $75,357.24; the contractual entitlement to solicitor/client costs justified an award of $11,760 as reasonable; disbursements of $1,700 were also awarded.
10 Mar 2009

TALAGI V TALAGI HC AK CIV 2008-404-002736

Citation

openlaw-7d2c916e_9fc5_45e0_b57e_9aab8d921822.pdf
Court

High Court

The court gave effect to the parties' consent reached at a judicial settlement conference and made orders that the defendants pay the plaintiff $112,000 in full and final settlement, payable within eight weeks with 12% p.a. interest thereafter, and that the defendants are liable both as executors and personally.
27 Jun 2008

DORCHESTER FINANCE LIMITED V PAIKEA HC AK CIV 2008-404-1452

Citation

openlaw-b86d6cdd_d41e_4073_bbe1_e0563e493611.pdf
Court

High Court

The court accepted the plaintiff's memorandum and directed that judgment be entered as specified, with interest continuing to accrue on $807,625.68 at 20.25% per annum from the date of hearing.
24 Jul 2006

MAASSEN V CLOUGH AND ORS HC PMN CIV-2006-454-241

Citation

openlaw-02b72b1e_719e_4326_ba0f_e7165445b7c9.pdf
Court

High Court

The Court directed that interest on the original $70,000 legacy runs from the end of the executors' year (31 August 2000) at the rate in Administration Act s39(2) unless $70,000 has been specifically appropriated in which case the legatee receives income actually earned; and that the additional $80,000 (the difference between the substituted $150,000 and the original $70,000) is treated as payable from the High Court judgment date (6 May 2004) and attracts interest from that date until payment at the judgment interest rate; s66 Trustees Act authorises the Court to make these directions.

New Zealand Case Law

PGG WRIGHTSON REAL ESTATE LTD v ROUTHAN [2023] NZCA 405

MYALL v TOWER INSURANCE LIMITED [2019] NZHC 528

ZHANG v KING DAVID INVESTMENTS LTD (IN LIQ) & ANOR [2016] NZHC 3018

SOUTHLAND BUILDING SOCIETY V FAWCETT HC HAM CIV-2009-419-000720

TALAGI V TALAGI HC AK CIV 2008-404-002736

DORCHESTER FINANCE LIMITED V PAIKEA HC AK CIV 2008-404-1452

MAASSEN V CLOUGH AND ORS HC PMN CIV-2006-454-241