Screenco Pty Limited v R L Dew Pty Limited & Anor

(2003) 58 NSWLR 720; [2003] NSWCA 319

NSW Court of Appeal

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Interrogate

Catchwords

1. Damages
2. › Interest on damages
3. › Pre-judgment interest
4. › Statutory discretion
5. › Whether plaintiff kept out of money in real and practical sense
6. › Chattel destroyed but purchase price unpaid
7. › Whether award would overcompensate plaintiff
8. › Supreme Court Act 1970 (NSW), s 94
1. Damages
2. › Interest on damages
3. › Pre-judgment interest
4. › Relationship between interest and loss of profits
5. › Whether interest and loss of profits alternative bases of compensation for same period
6. › Admiralty practice
1. Damages
2. › Interest on damages
3. › Pre-judgment interest
4. › Effect of third party benefits on award of interest
5. › Insurance payments
6. › Voluntary benefits from related company
7. › Whether benefits reduce entitlement to interest

Quick Take

Where a plaintiff owns a destroyed chattel but has not paid the purchase price and has no obligation to pay interest on that price, pre-judgment interest on the capital value of the chattel will not be awarded under s 94 of the Supreme Court Act 1970 (NSW), as the plaintiff has not been 'kept out of its money' in a real and practical sense. Interest and loss of profits are alternative bases of compensation and should not be awarded for the same period. The onus is on the plaintiff to establish that it has suffered a real and practical loss warranting interest.