Fried v National Australia Bank Limited [2001] FCA 1280

FEDERAL COURT OF AUSTRALIA

Fried v National Australia Bank Limited [2001] FCA 1280

INTEREST – rate of interest – appropriate rate on judgment for sum wrongfully debited to bank account – whether compound rate infringes prohibition against award of interest on interest

PRACTICE AND PROCEDURE – costs – whether costs should be ordered – complex proceeding involving many parties and issues, substantial number settled, one of several applicants partially successful against one respondent after one aborted trial and a long trial – impossibility of determining who was responsible for aborted trial – offer of settlement whether unreasonably refused – whether costs ordered in respect of trial after rejection of offer should be on an indemnity basis

Calderbank v Calderbank [1976] Fam 93, cited Federal Court of Australia Act 1976 (Cth) s 51A(2)(a) & (b) TAB FRIED AND ORS v NATIONAL AUSTRALIA BANK LIMITED AND ORS VG 352 of 1998 GRAY J 29 AUGUST 2001 MELBOURNE

IN THE FEDERAL COURT OF AUSTRALIA

VICTORIA DISTRICT REGISTRY VG 352 of 1998

BETWEEN: TAB FRIED

FIRST APPLICANT

EVA FRIED

SECOND APPLICANT

DAVID FRIED

THIRD APPLICANT

COMPACK PACKAGING EMPLOYEE SHARE PLAN PTY LTD (ACN 062 925 393)

FOURTH APPLICANT

EVATAB INVESTMENTS PTY LTD (formerly TED Engineering Investment Pty Ltd) (ACN 006 392 972)

FIFTH APPLICANT

INVOTIN PTY LTD (ACN 006 786 394)

SIXTH APPLICANT

WINDINA PTY LTD (ACN 074 583 412)

SEVENTH APPLICANT

EVATAB LEASING PTY LTD (ACN 074 572 204)

EIGHTH APPLICANT

AND: NATIONAL AUSTRALIA BANK LIMITED (ACN 004 044 937)

FIRST RESPONDENT