Latol Pty Limited v Robin Gersbeck (No 2) [2016] NSWSC 25

Supreme Court New South Wales

Medium Neutral Citation: Latol Pty Limited v Robin Gersbeck (No 2) [2016] NSWSC 25 Hearing dates: 3 February 2016 Date of orders: 03 February 2016 Decision date: 03 February 2016 Jurisdiction: Common Law Before: Hamill J Decision: (1) Judgment for the plaintiff in the sum of $176,529. (2) The first defendant is to pay the plaintiff's costs assessed on the ordinary basis up to and including 31 July 2015. (3) The first defendant is to pay the plaintiff's costs assessed on the indemnity basis on and from 1 August 2015. (4) The first defendant is to pay interest on the costs in orders (2) and (3), at the rate prescribed in UCPR 36.7, from the dates of payment of those costs by the plaintiff. Catchwords: CIVIL LAW – damages and costs – appropriate rate of interest – where Court granted adjournment to the defendant on the basis that a particular interest rate would apply from that date – whether plaintiff entitled to damages for loss sustained in attempting to recover from a third party – third party the original borrower – defendant brokered the loan – whether damages too remote – need to expend legal costs to litigate foreseeable – indemnity costs – where offer of compromise rejected Legislation Cited: Australian Securities and Investments Commission Act 2001 (Cth) Civil Procedure Act 2005 (NSW) Uniform Civil Procedure Rules 2005 (NSW) Cases Cited: Avenhouse v Hornsby Shire Council (1998) NSWLR 1 Category: Costs Parties: Latol Pty Limited (Plaintiff) Robin Gersbeck (Defendant) Representation: Counsel: M Avenell (Plaintiff) P Fagan (Defendant)