Ocean Star Resort Pty Ltd v David Hokyoon Kwon & Anor (No. 2) [2012] NSWSC 897

Supreme Court New South Wales

Medium Neutral Citation: Ocean Star Resort Pty Ltd v David Hokyoon Kwon & Anor (No. 2) [2012] NSWSC 897 Hearing dates: 26 June 2012 Decision date: 31 July 2012 Jurisdiction: Equity Division Before: Slattery J Decision: The judgment will be expressed in Korean Won in respect of the Korean Won paid under the June 2004 Agreement. The judgment will be expressed in Australian Dollars in respect of the Australian Dollars paid under the June 2004 Agreement. Interest should be paid from 1 January 2009 up to the date of judgment. Interest should be paid at the Korean commercial interest rate in respect of the Korean Won component of the judgment and in accordance with Practice Note SC Gen 16 in respect of the Australian dollar component of the judgment. Parties are to undertake the necessary calculations. Catchwords: PROCEDURE - judgments and orders - currency of judgment - interest up to judgment finding in principal judgment Ocean Star Resort Pty Ltd v David Hokyoon Kwon & Anor [2012] NSWSC 318 that June 2004 contract abandoned - restitution of monies paid under abandoned contract - whether monies recovered should be paid in Korean Won or Australian Dollars - whether interest should be paid up to judgment - what interest rate is applicable. Legislation Cited: Civil Procedure Act 2005 (NSW) Cases Cited: Air Great Lakes Pty Ltd v KS Easter (Holdings) Pty Ltd (1985) 2 NSWLR 30 BP Exploration Co (Libya) Ltd v Hunt (No. 2) [1982] 1 All ER 925 Brown Boveri (Australia) Pty Ltd v Baltic Shipping Co (1989) 15 NSWLR 448 DTR Nominees Pty Ltd v Mona Homes Pty Ltd (1977) 138 CLR 423 Eleftherotria v Despina R [1979] 1 All ER 421 Helmsing Schiffahrts GmbH & Co v Malta Drydocks Corporation [1977] 2 Lloyd's Rep 444 Fitzgerald v Masters (1956) 95 CLR 420 Lombok Pty Ltd v Supetina Pty Ltd and Anor (1987) 14 FCR 226 Maschinenfabrik Augsburg-Nurenburg Aktiengesellschaft v Altikar Pty Ltd [1984] 3 NSWLR 152 Miliangos v George Frank (Textiles) Ltd [1976] AC 443 Mitsui OSK Lines Ltd v The Ship 'Mineral Transporter' [1983] 2 NSWLR 564 Norsemeter Holdings AS v Pieter Bolele (No. 3) [2002] NSWSC 390 Ocean Star Resort Pty Ltd v David Hokyoon Kwon & Anor [2012] NSWSC 318 Placer (PNG) Pty Ltd v Dyno Nobel Asia Pacific Ltd (Formerly Dyno Wesfarmers Ltd) [2000] NSWSC 142 State Bank of NSW v Swiss Bank Corporation (1995) 39 NSWLR 350 Summers v The Commonwealth (1918) 25 CLR 144 Swiss Bank Corporation v State of New South Wales (1993) 33 NSWLR 63 Category: Consequential orders Parties: Plaintiff-Ocean Star Resort Pty Ltd First Defendant-David Ho Kyoon Kwon Second Defendant- Soft Star Pty Ltd Representation: Counsel: Plaintiff-Mr J.R. Young First and Second Defendants-A.Ogborne Solicitors: Plaintiff-Sean Kim, Kim & Associates First and Second Defendants-Sylvia Fernandez, Holding Redlich File Number(s): 2009/290325 Publication restriction: No