Chu v Haddad [2014] NSWSC 1720

Supreme Court New South Wales

Medium Neutral Citation: Chu v Haddad [2014] NSWSC 1720 Hearing dates: 2 December 2014 Decision date: 02 December 2014 Jurisdiction: Common Law Before: Davies J Decision: 1. Judgment for the Plaintiffs against the Defendant in the sum of the four loans totalling $800,000.00. 2. Interest on the respective four loans is calculated at the rate of interest of 2.5% per month on the respective loans, for the following period: (a) 19/9/2006 - 19/3/2007 (1st loan) (b) 25/9/2006 - 25/3/2007 (2nd loan) (c) 29/1/2007 - 29/6/2007 (3rd loan) (d) 2/5/2007 - 29/6/2007 (4th loan) Thereafter, interest to be calculated at rate pursuant to s 100 Civil Procedure Act 2005 (NSW). 3. The Defendant to pay the Plaintiffs' costs of these proceedings, as agreed or assessed. 4. Any and all previous costs orders are discharged save for order 3 above. Catchwords: DEBT - loan agreements - parties agree on judgment for principal sum and interest for the period of loan agreements - whether interest thereafter payable at contract rates or pursuant to s 100 Civil Procedure Act - construction of loan agreements Legislation Cited: Civil Procedure Act 2005 (NSW) Cases Cited: Investors Compensation Scheme Ltd v West Bromwich Building Society [1998] 1 WLR 896 Maggbury Pty Ltd v Hafele Aust Pty Ltd [2001] HCA 70; 210 CLR 181 Category: Principal judgment Parties: Chenny Chu ( First Plaintiff) Christine Chu (Second Plaintiff) John Haddad (Defendant) Representation: Counsel: M Sneddon ( Plaintiffs) P Afshar (Defendant) Solicitors: Mosca & Scott ( Plaintiffs) Spinks Eagle Lawyers (Defendant) File Number(s): 2013/83443