Kay v National Australia Bank Ltd [2010] NSWSC 1116

New South Wales Supreme Court

CITATION : Kay v National Australia Bank Ltd [2010] NSWSC 1116

HEARING DATE(S) : 12-15 April 2010, 6 May 2010

JUDGMENT DATE : 30 September 2010

JURISDICTION : Common Law

JUDGMENT OF : Rothman J

(i) Judgment for the plaintiffs;

(ii) The defendant shall pay damages to the plaintiffs of an amount of $280,000;

(iii) The defendant shall calculate the interest payable in accordance with the reasons for judgment and pay the defendants the difference between that which has been paid by the plaintiffs and not refunded and that which should have been paid in accordance with these reasons;

DECISION : (iv) Leave is reserved to the parties to approach on two days' notice on any dispute concerning the calculation referred to in the immediately preceding paragraph;

(v) The defendant shall pay the plaintiffs' costs of and incidental to these proceedings, as agreed or assessed;

(vi) The parties have liberty to apply for any different or special order for costs or in relation to any arithmetic calculation;

(vii) Otherwise the proceedings are dismissed.

CATCHWORDS : CONTRACT – damages – excess interest charges – Hadley v Baxendale "second limb" – loss of chance damages – damages awarded - DAMAGES – contract – excess interest charges – Hadley v Baxendale "second limb" – loss of chance damages – damages awarded

LEGISLATION CITED : Trade Practices Act 1974 (Cth)

CATEGORY : Principal judgment

Alexander v Cambridge Credit Corporation Limited (1987) 9 NSWLR 310 Commonwealth v Amann Aviation Pty Ltd [1991] HCA 54; (1992) 174 CLR 64 Gray v Motor Accident Commission [1998] HCA 70; (1998) 196 CLR 1 CASES CITED : Hadley v Baxendale (1854) 9 Ex 341; 156 ER 145 McDonald v Dennys Lascelles Ltd [1933] HCA 25; (1933) 48 CLR 457 Robinson v Harman (1848) 1 Ex 850; (1848) 154 ER 363 Robophone Facilities Limited v Blank [1966] 1 WLR 1428 Sellars v Adelaide Petrolium N.L. [1994] HCA 4; (1994) 179 CLR 332