Fenech, G. & Anor v Sterling, R. [1986] FCA 233

ay 4u o NOT FOR GENERAL DISTRIBUTION

RSS

Li) THE FEDERAL COURT OF AUSTRALIA ) }

NEW SOUTH WALES DISTRICT REGISTRY ) No. G344 of 1983 ) GENERAL DIVISION )

BETWEEN : GEORGE FENECH and JULIAN FENECH Applicant AND: ROBERT STERLING Respondent

MINUTES OF ORDEP

Judge making order: Beaumont, J. Date order made: 12 June 1986

Where made: Sydney

THE COURT ORDERS THAT:

In addition to the sum of $3,975.92 the respondent

pay to the applicants the sum of $2,583.13.

Note: Settlement and entry of orders is dealt with in

Order 36 of the Federal Court Rules.

UL THE FEDERAL COURT OF AUSTRALIA ) )

NEW SOUTH WALES DISTRICT REGISTRY ) No. G344 of 1983 }

GENERAL DIVISION )

BETWEEN : GEORGE FENECH and JULIAN FENECH Applacant AND: ROBERT STERLING Respondent

iO 1O g

Beaumont, J. 3 a

13 June 1986

REASONS FOR JUDGMENT (No. 2)

For reasons given on 12 September 1985, I reserved liberty to the applicants to apply for further relief. The Matter was restored to the list for this purpose. Again, although given notice of the further hearings, the

respondent has not appeared.

According to their additional affidavit evidence, the applicants say that, if they had been unable. in November 1977, to invest in a suitable real estate investment, they would have placed funds on deposit with Westpac Banking Corporation in a savings investment account.

Evidence from Westpac showed that, 1n the relevant period,

the rates of interest paid by Westpac for this purpose fluctuated between 7.25% per annum and 11.5% per annum. If the whole sum of $3,650.00 paid by the applicants to the respondent had been invested with Westpac, 1t would have earned interest amounting to $3,409.05 over the relevant period. On the other hand, the applicants should not be permitted to claim hoth the banking charges and interest of

225.92, mentioned in the previous reasons, and interest