Following a successful appeal in a building dispute, the Court awarded pre-judgment interest on the painting stage amount at the contractual rate of 20% (without weekly compounding) from the date payment was due until judgment, and at the Court Procedure Rules rate on the practical completion amount for the same period, with post-judgment interest on all sums at the statutory rate only. The Court ordered indemnity costs from 24 September 2024 on the basis that the respondents unreasonably rejected a Calderbank offer of $94,000 where the appellant ultimately obtained a more favourable result of approximately $126,156 (judgment sum plus interest), with party-party costs for the earlier period.
The full text is available to signed-in members.