Sheldrake & Anor v Paltoglou [2006] QCA 400

Court of Appeal (Qld)|2006-10-13|Before: McMurdo P and Keane and Holmes JJA Separate reasons for judgment of, each member of the Court, each concurring as to the order made

The respondent appeared on her own behalf by telephone

The Court also ordered that the amount of the appellant's entitlement to interest on the sum of $66,985.68 be reserved for further consideration, if not agreed. Regrettably, the parties have not been able to agree upon the issue of interest, and the liquidators have made application for an order for the payment of interest.

The sum of $66,985.68 was received by Ms Paltoglou from the company prior to 12 August 2003. On that date, the liquidators wrote to Ms Paltoglou demanding the return of these moneys. Ms Paltoglou did not comply with this demand.

The decision of this Court ultimately vindicated the liquidator's demand. It is, therefore, appropriate to fix upon 12 August 2003 as the date from which interest is to run for the purposes of the liquidator's claim pursuant to s 47(1) of the Supreme Court Act 1995 (Qld). See Ferrier & Anor v Civil Aviation Authority [1994] FCA 1571; (1994) 127 ALR 472 at 473.

For the period from 12 August 2003 to 3 March 2006, the liquidators seek interest at the rate of 9 per cent per annum. That rate was fixed by Supreme Court Practice Direction No 2 of 2002. This claim totals $15,443.41.

For the period after 3 March 2006, the liquidators seek interest pursuant to s 48 of the Supreme Court Act 1995 at the rate of 10 per cent per annum until payment. This is an amount of $18.35 per day. The rate of 10 per cent per annum is fixed by regulation 4 of the Supreme Court Regulation 1998 (Qld).

Ms Paltoglou must, in my view, pay the liquidators interest in the sum of the $15,443.41 for the period from 12 August 2003 to 3 March 2006; and at the rate of $18.35 per day from and including 4 March 2006 until payment. In my view, Ms Paltoglou must also pay the liquidator's cost of this application.

THE PRESIDENT: The orders are as set out by Keane JA.

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