Jones, John Charles v South British Insurance Co Ltd [1984] FCA 90

aes ee,

i oe

Appeal - claim under policy of marine insurance ~ damages

in the nature of interest - rate of interest appropriate - relation to commercial rates - compensatory aspect of

interest - relevance of rate of interest on judgment debts - failure to take account of practice of court or actual rates -

practice of Supreme Court of Northern Territory

Supreme Court Act 1979 (N.T.) ss. 84, 85 3 and 4 Will. IV., c.42 - Civil Procedure Act, 1833 (Imp.)

JOHN CHARLES JONES v. THE SOUTH BRITISH INSURANCE COMPANY LIMITED

No. NTG 41 of 1983

MUIRHEAD, TOOHEY & McGREGOR JJ.

DARWIN

13 APRIL 1984 '

IN THE FEDERAL COURT OF AUSTRALIA NORTHERN TERRITORY OF AUSTRALIA

DISTRICT REGISTRY GENERAL DIVISION

No. NIG 41 of 1983

wee we ew

ON APPEAL from the Supreme Court of the Northern Territory of Australia

BETWEEN:

JOHN CHARLES JONES

Appellant ' and THE SOUTH BRITISH INSURANCE COMPANY LIMITED

_ Respondent

Oo R D_ E R

JUDGES MAKING ORDER

Muirhead, Toohey & McGregor JJ.

DATE OF ORDER 13 April 1984

WHERE MADE Darwin

THE COURT ORDERS THAT: 1. The appeal be allowed. 2. Paragraph 5 of the order made by the Supreme

Court of the Northern Territory on 23 November

1983 be set aside and in lieu thereof it be

crdered that the respondent pay to the appellant

damages in the nature of interest on the sum

of $100,000 calculated at 10% per annum from

ha

1 November 1978 to 30 November 1979 and at 12% per annum from 1 December 1979 to 14 October 1983.

The parties have liberty to apply

to enter judgment in a sum determined in accordance with the preceding paragraph.

The respondent pay the costs of this

appeal.

aat

IN THE FEDERAL COURT ) OF AUSTRALIA ) NORTHERN TERRITORY OF ) AUSTRALIA J No. NTG 41 of 1983 DISTRICT REGISTRY ) GENERAL DIVISION )

ON APPEAL from the Supreme Court of the Northern Territory of Australia

BETWEEN:

JOHN CHARLES JONES Appellant and