PT. SANDIPALA ARTHAPUTRA v STMICROELECTRONICS ASIA PACIFIC PTE LTD & 2 Ors

PT. SANDIPALA ARTHAPUTRA v STMICROELECTRONICS ASIA PACIFIC PTE LTD & 2 Ors

Oxel is entitled to interest: contractual rate 1.5% per month on US$5,406,378.72 and US$279,813.36, running from the 31st day after each relevant invoice date as listed; and default/pre-judgment interest at 5.33% p.a. on US$15,960,654.65 (component sums running from 2 Jan 2013, 21 Dec 2013, 16 Oct 2015, 27 Oct 2015 and 30 Dec 2015) and on US$175,336.44 running from 31 Jan 2013.

Citation
[2017] SGHC 191
Parties
Plaintiff; Defendant (by Counterclaim): PT Sandipala Arthaputra; 1st Defendant: STMicroelectronics Asia Pacific Pte Ltd; 2nd Defendant; Plaintiff (by Counterclaim): Oxel Systems Pte Ltd; 3rd Defendant: Vincent Pierre Luc, Cousin; Defendant (by Counterclaim): Paulus Tannos; Defendant (by Counterclaim): Catherine Tannos; Defendant (by Counterclaim): Lina Rawung
Court
General Division of the High Court
Jurisdiction
Singapore
Judgment Date
7 August 2017
Case Number
S 542/2012
Procedural Posture
Civil Contract / Supplemental Judgment (clarification of Interest)
Outcome
Supplemental judgment: clarifications granted in favour of Oxel regarding interest rates and start dates as specified
Legal Topics
Pre Judgment Interest, Contractual Interest, Assessment of Damages, Quantification of Interest
Source Language
English
Civil Procedure Contract Damages Interest Pre Judgment Interest Contractual Interest Assessment of Damages Quantification of Interest

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Parties

PT Sandipala Arthaputra

Plaintiff; Defendant (by Counterclaim)

STMicroelectronics Asia Pacific Pte Ltd

1st Defendant

Oxel Systems Pte Ltd

2nd Defendant; Plaintiff (by Counterclaim)

Vincent Pierre Luc, Cousin

3rd Defendant

Paulus Tannos

Defendant (by Counterclaim)

Catherine Tannos

Defendant (by Counterclaim)

Lina Rawung

Defendant (by Counterclaim)

Procedural Posture

Civil Contract / Supplemental Judgment (clarification of Interest)

Legal Issues

  1. 1 Whether contractual interest rate applies to specified awards
  2. 2 From which dates interest runs on each awarded sum
  3. 3 Whether default/pre-judgment interest rate applies to other awards

Ratio Decidendi

Oxel is entitled to interest: contractual rate 1.5% per month on US$5,406,378.72 and US$279,813.36, running from the 31st day after each relevant invoice date as listed; and default/pre-judgment interest at 5.33% p.a. on US$15,960,654.65 (component sums running from 2 Jan 2013, 21 Dec 2013, 16 Oct 2015, 27 Oct 2015 and 30 Dec 2015) and on US$175,336.44 running from 31 Jan 2013.

Court Disposition

Supplemental judgment: clarifications granted in favour of Oxel regarding interest rates and start dates as specified

Orders

  • Oxel is entitled to US$5,406,378.72 for the price of 11,263,289 chips (fifth to fifteenth shipments).
  • Oxel is entitled to US$279,813.36 for the unpaid 20% down payment on 2,331,778 chips.