Maestrale v Aspite (No 2)

[2014] NSWCA 302

NSW Court of Appeal

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Interrogate

Catchwords

1. Practice and Procedure
2. › Interest
3. › Pre-judgment interest
4. › Date from which interest runs
5. › Whether interest runs from date cause of action arose or date financial loss crystallised
6. › Civil Procedure Act 2005 (NSW), s 100(1)(b)
1. Practice and Procedure
2. › Interest
3. › Post-judgment interest
4. › Date to which interest runs
5. › Whether court should limit post-judgment interest where delay caused by successful party's change of position
6. › Civil Procedure Act 2005 (NSW), s 101
7. › Uniform Civil Procedure Rules 2005 (NSW), r 36.7
1. Practice and Procedure
2. › Interest
3. › Post-judgment interest
4. › Purpose of post-judgment interest
5. › Compensatory and deterrent functions
6. › Whether higher prescribed rate reflects disincentive to delay payment

Quick Take

Pre-judgment interest under s 100(1)(b) of the Civil Procedure Act 2005 (NSW) runs from the date the plaintiff's financial loss actually crystallised, not from the date a hypothetical earlier event would have occurred, where the plaintiff had full use of the money during the intervening period. Post-judgment interest may be limited where the delay in payment of the judgment sum was caused by the successful party's late and unsuccessful change of position on the calculation of interest.