Short v Crawley (No. 39) [2008] NSWSC 1353

New South Wales Supreme Court

CITATION : Short v Crawley (No. 39) [2008] NSWSC 1353

HEARING DATE(S) : 12 December 2008

JUDGMENT DATE : 12 December 2008

JURISDICTION : Equity

JUDGMENT OF : White J

EX TEMPORE JUDGMENT DATE : 12 December 2008

DECISION : 1. Decline to make a declaration as sought by the defendants to the effect that the orders of 26 November 2008 do not authorise the giving of interest on that part of the judgment which includes a component of pre-judgment interest; 2. Order that the first to ninth defendants pay the plaintiffs' costs of and incidental to the application dealt with in these reasons for judgment on the ordinary basis.

CATCHWORDS : INTEREST – recoverability of interest – whether post-judgment interest may be awarded on a judgment sum comprising principal and pre-judgment interest – ss 100 and 101 Civil Procedure Act

LEGISLATION CITED : Civil Procedure Act 2005 (NSW)

CATEGORY : Procedural and other rulings

CASES CITED : Re Jackson; Conway v Conway [2000] FCA 1530 Short v Crawley (No. 38) [2008] NSWSC 917

Roslyn Short as executrix of the estate of the Late Warwick Gordon Short & Anor PARTIES : v Christopher Crawley & 9 Ors (No. 39)

FILE NUMBER(S) : SC 2824/98

COUNSEL : Plaintiff: A P Coleman Defendants: M Green

SOLICITORS : Plaintiff: Kemp Strang Defendants: Bruce Stewart Dimarco

IN THE SUPREME COURT OF NEW SOUTH WALES EQUITY DIVISION

WHITE J

Friday, 12 December 2008

2824/98 Roslyn Short as executrix of the estate of the Late Warwick Gordon Short & Anor v Christopher Crawley & 9 Ors (No. 39) JUDGMENT 1 HIS HONOUR: An issue has arisen as to the proper construction of orders 4 and 6 made on 26 November 2008. Orders 1, 2 and 3 made on 26 November 2008 provided for the payment by Mr Crawley to Nabatu of the sum of $11,443,134 plus interest from 1 August 2008 up to the date of payments. The orders also provide for the handing over of share transfers and bank guarantees. 2 Because the parties agreed upon the provision of bank guarantees, orders were made by consent for the stay of various of the orders made on 19 December 2007 until further order. Order 4 provides that at the time payment for the shares is made: " ... Mr Crawley provide to Nabatu an irrevocable bank guarantee in favour of the Principal Registrar of the Supreme Court of New South Wales to secure the payment by Marsico and Mr Crawley to Christopher John Palmer as receiver of the Australian Youth Hotel Partnership (' the Receiver ') of the amounts ordered to be paid pursuant to Order 16(c) and Order 31 of the orders dated 19 December 2007 (being the sum of $2,638,379.01 plus interest at rates prescribed under Schedule 5 of the Uniform Civil Procedure Rules 2005 (NSW) (' the UCPR ') from 19 December 2007 up to the date of payment (' the Receiver Bank Guarantee ')), which guarantee can be called upon by the Principal Registrar to pay any amounts which Marsico and Mr Crawley are ordered to pay the Receiver at the conclusion of any and all appeals. "