Yolarno Pty Ltd v TransGlobal Capital Pty Ltd & Ors (No 4) [2003] NSWSC 1206

New South Wales Supreme Court

CITATION : Yolarno Pty Ltd v TransGlobal Capital Pty Ltd & Ors (No 4) [2003] NSWSC 1206 HEARING DATE(S) : 15 December 2003 JUDGMENT DATE : 15 December 2003 JURISDICTION: Equity JUDGMENT OF : Gzell J DECISION : Order for pre-judgment interest set aside. Plaintiff given leave to adduce evidence of interest rates.

CATCHWORDS : PROCEDURE - Supreme Court Procedure - Whether judgment should be reopened before entry - Whether the Supreme Court Act 1970, s 94 empowers an order for pre-judgment interest on an award of damages under the Trade Practices Act 1974 (Cth), s 82 - Whether an order for interest under s 82 should be set aside - Whether as a condition of reopening, the plaintiff should be allowed to tender further evidence on interest rates on borrowings or investments as part of the damages under s 82 - Principles applicable to reopening to admit further evidence considered Supreme Court Rules 1970 Trade Practices Act 1974 (Cth) LEGISLATION CITED : Supreme Court Act 1970 High Court Procedure Act 1903 (Cth) Judiciary Act 1903 (Cth) Wentworth v Woollahra Municipal Council (1981-1982) 149 CLR 672 Smith v NSW Bar Association (1992) 176 CLR 256 Autodesk Inc v Dyason (No 2) (1992-1993) 176 CLR 300 Pittalis v Sherefettin [1986] QB 868 Compagnie Noga D'Importation et D'Exportation SA v Abacha [2001] 3 All ER 513 Nella v Kingia Pty Limited (1989) ATPR 40-952 Australian National Airlines Commission v The Commonwealth (1975) 49 ALJR 338 Northern Territory v GPAO (1999) 196 CLR 553 Austral Pacific Group Limited (in liq) v Airservices Australia (2000) 203 CLR 136 CASES CITED : ASIC v Edensor Nominees Pty Ltd (2001) 204 CLR 559 State Bank of NSW v Commonwealth Savings Bank of Australia (1984) 154 CLR 579 Urban Transport Authority of NSW v Nweiser (1992) 28 NSWLR 471 Wollongong Corporation v Cowan (1955) 93 CLR 435 McCann v Parsons (1954) 93 CLR 418 Orr v Holmes (1948) 76 CLR 632 CDJ v VAJ (1998) 197 CLR 172 Wall v Timbertown Community Enterprises Limited (in liq) (2002) 42 ACSR 1 Tamas v Streimer, (unreported, NSW Court of Appeal, 10 July 1981) Commonwealth v McCormack (1984) 155 CLR 273 Yolarno Pty Ltd - Plaintiff PARTIES : TransGlobal Capital Pty Ltd - 1st Defendant Garry Charles Taylor - 2nd Defendant Stuart Murray - 3rd Defendant FILE NUMBER(S) : SC 4575/00 COUNSEL : Mr TS Hale SC and Mr JM White (Plaintiff) Mr SL Bell (1st and 2nd Defendants) SOLICITORS : Hunt Partners (Plaintiff) Webster O'Halloran & Associates (1st and 2nd Defendants)