Quinn & Anor v Pioneer Australia Pty Ltd & Anor

[2019] QCA 266

Queensland Court of Appeal

Built by Barristers,
For Australian Law.

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Interrogate

Catchwords

1. Contract
2. › Construction of contractual documents
3. › Deed of compromise
4. › Calculation of interest
5. › Whether deed provided for simple interest or capitalised interest
6. › Surrounding circumstances and purpose of transaction
1. Appeal
2. › General principles
3. › Interference with judge's findings of fact
4. › Preference for expert evidence
5. › Whether trial judge erred in rejecting one expert valuer's evidence and accepting another's
1. Real Property
2. › Mortgages
3. › Mortgagee sale
4. › Breach of duty to exercise reasonable care
5. › Valuation of land
6. › Hypothetical development basis

Quick Take

Where a deed of compromise arises out of a default under loan arrangements that provided for capitalised interest, and the deed states that interest will 'continue to accrue' at a specified rate 'calculated at monthly rests', the deed provides for capitalised (compound) interest, not simple interest. A valuer's opinion may properly be rejected where it is based on flawed assumptions about the currency of development approvals and the extent of approved developable area.