The Court held that under the NT Supreme Court Rules, Rule 63.74 provides the only discretion to fix the rate and commencement date of interest on taxed costs, and there is no power to set an end date or otherwise adjust the quantum of interest on costs using a general costs discretion. Interest on the agreed costs of $1,010,000 was calculated at 7% per annum from the date determined by the prior associate justice (29 June 2023) through to the date of payment (22 May 2025), yielding $134,234.10. The Court declined indemnity costs for the application, holding the plaintiff's argument warranted consideration even though it was unsuccessful.
The full text is available to signed-in members.