Kalls Enterprises Pty Ltd (In liquidation) & Ors v Baloglow & Anor (No 3) [2007] NSWCA 298

New South Wales Court of Appeal

CITATION: Kalls Enterprises Pty Ltd (In liquidation) & Ors v Baloglow & Anor (No 3) [2007] NSWCA 298

HEARING DATE(S): On written submissions

JUDGMENT DATE: 24 October 2007

JUDGMENT OF: Giles JA; Ipp JA; Basten JA

DECISION: Order 2.1 made on 9 August 2007 discharged and in lieu thereof ordered: "2.1 That there be judgment for the second plaintiff against the first defendant for $1,190,596.64 taking effect on 9 August 2007."

CATCHWORDS: Interest - pre-judgment interest - whether calculated at Schedule 5 rates for whole of pre-judgment period - whether delay in bringing and prosecuting proceedings - whether other commercial rates of interest established - relevance of failure to claim recovery from other persons - compensatory purpose of award of interst - broad discretion - Schedule 5 rates ordinarily used - overcompensation not established.

Ambulance Service of New South Wales v Worley (No 2) [2006] NSWCA 236; Bennett v Jones (1977) 2 NSWLR 355; Clarke v Foodland Stores Pty Ltd (1993) 2 VR 382; Falkner v Bourke (1990) 19 NSWLR 574; Geoffrey W Hill & Associates (Insurance Brokers) Pty Ltd v Squash Centre (Allawah North) Pty Ltd (1990) 6 ANZ Ins Cas 61-012; CASES CITED: Grincelis v House (2000) 201 CLR 321; Hexiva Pty Ltd v Lederer (No 2) [2007] NSWSC 49; Heydon v NRMA Ltd (No 2) (2001) 53 NSWLR 600; Kalls Enterprises Pty Ltd (In liquidation) v Baloglow [2007] NSWCA 191; MBP (SA) Pty Ltd v Gogic (1991) 171 CLR 657; Ruby v Marsh (1975) 132 CLR 642.

Kalls Enterprises Pty Ltd (In liquidation) - First Appellant AA Australian Commercial Laundries Pty Ltd - Second Appellant PARTIES: Christopher Damien Darin (in his capacities as Liquidator of Kalls Enterprises (In liquidation) and AA Australian Commercial Laundries Pty Ltd (In liquidation) - Third Appellant Theo Baloglow - First Respondent and Cross-Appellant Peter Kaliaropoulos - Second Respondent and Cross-Respondent