Stanilite Pacific Ltd. (In Liq) & Anor. v. Seaton and Ors. (No.2) [2005] NSWCA 412

New South Wales Court of Appeal

CITATION: Stanilite Pacific Ltd. (In Liq) & Anor. v. Seaton and Ors. (No.2) [2005] NSWCA 412

HEARING DATE(S): Matter dealt with on written submissions in Chambers

JUDGMENT DATE: 25 November 2005

JUDGMENT OF: Hodgson JA at 1; McColl JA at 13; Bryson JA at 14

DECISION: 1. Appeal allowed. 2. Order 1 made in the Court below on 12 May 2004 set aside and in lieu thereof judgment for the first appellant. 3. Respondents to pay the first appellant damages of $1,576,000.00 plus interest calculated pursuant to Schedule 5 of the Rules for the period from 4 December 1995 to the date that these orders are made. 4. Order 1 made in the Court below on 8 June 2004 set aside. 5. Respondents to refund the costs paid by the appellants, being $2,150,000.00, in respect of the trial and the respondents are to pay interest on the amount to be refunded calculated pursuant to Schedule 5 of the Rules for the period from 12 July 2004 to the date that these orders are made. 6. Respondents to pay one-third of the appellants' costs of the proceedings at first instance, and one-half of the appellants' costs of the appeal, and to have a certificate under the Suitors' Fund Act if otherwise eligible.

CATCHWORDS: PROCEDURE - Costs and interest - Whether liquidation of plaintiff and delay should reduce interest - Apportionment of costs where plaintiff partially successful.

CASES CITED: Screenco Pty. Ltd. v. R.L. Dew Pty. Ltd. [2003] NSWCA 319, 58 NSWLR 720

Stanilite Pacific Limited (In liquidation) - first appellant PARTIES: SL Electronics (NSW) Pty. Limited (In liquidation) - 2nd appellant William Henry Seaton and those persons listed in Annexure A to the Notice of Appeal trading as Price Waterhouse - respondents