Edmonds & Ors v Donovan & Ors

[2005] VSCA 97

Victorian Court of Appeal

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Interrogate

Catchwords

1. Practice and Procedure
2. › Interest on judgments
3. › Penalty interest
4. › Date from which interest accrues
5. › Where appellate court varies judgment below
6. › Whether judgment takes effect from date of original judgment or date of appellate order
7. › Supreme Court Act 1986 (Vic), s 101
1. Practice and Procedure
2. › Interest on judgments
3. › Penalty interest
4. › Whether court has discretion to vary amount or date of penalty interest
5. › Duration of penalty interest until judgment debt satisfied
6. › Supreme Court Act 1986 (Vic), s 101
7. › Penalty Interest Rates Act 1983 (Vic)
1. Practice and Procedure
2. › Interest on judgments
3. › Penalty interest
4. › Whether party whose liability reduced on appeal entitled to penalty interest on amount of reduction
5. › Supreme Court Act 1986 (Vic), s 101

Quick Take

Where an appellate court varies the quantum of a judgment but assesses the principal sum as at the date of the original judgment, penalty interest under s 101 of the Supreme Court Act 1986 (Vic) runs from the date of the original judgment, not the date of the appellate order. The court has no discretion to vary the amount or commencement date of penalty interest under s 101. Deposit of funds into a joint trust account pursuant to a stay order does not constitute satisfaction of the judgment debt or a basis for cessation of penalty interest.