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\rsid5072535\rsid12404853\rsid14370078\rsid15227959}{\*\generator Microsoft Word 10.0.4219;}{\info{\title IN THE HIGH COURT OF FIJI}{\author Emalus Campus}{\operator ehndvaun_d}{\creatim\yr2003\mo7\dy31\hr17\min17}{\revtim\yr2003\mo7\dy31\hr17\min17}
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\f5\fs24\lang1033\langfe5129\cgrid\langnp1033\langfenp5129 {\b\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 IN THE HIGH COURT OF FIJI
\par At Suva
\par Civil Jurisdiction
\par }{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 
\par CIVIL ACTION NO. 0228 OF 1988
\par 
\par Between:
\par 
\par }{\b\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 NEBULITE ALUMINIUM LIMITED
\par }{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 Plaintiff
\par 
\par - and -
\par 
\par }{\b\f0\lang2057\langfe5129\langnp2057\insrsid5072535 1. }{\b\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 RAM PADARATH
\par 2.}{\b\f0\lang2057\langfe5129\langnp2057\insrsid5072535  }{\b\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 RAM NIVAS
\par }{\b\f0\lang2057\langfe5129\langnp2057\insrsid5072535 3. }{\b\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 SHIU SHANKAR
\par 4.}{\b\f0\lang2057\langfe5129\langnp2057\insrsid5072535  }{\b\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 VINOD
\par }{\b\f0\lang2057\langfe5129\langnp2057\insrsid5072535 5. }{\b\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 SURENDRA PADARATH
\par }{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 (all sons of Audh)
\par Defendants
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid12404853 {\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 
\par Mr. G. Keil for Plaintiff
\par Mr. D. Sharma for 1st, 2nd, 4th and 5th Defendants
\par 
\par }\pard \qc \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid12404853 {\b\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 JUDGMENT
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid12404853 {\b\f0\ul\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 
\par }{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 On the }{\b\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 5th of April 1988}{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 
 the plaintiff company issued a writ in the }{\b\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 High Court}{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853  claiming under a }{
\b\f0\ul\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 Deed of Guarantee}{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853  jointly and severally entered into by the defendants guarantee
ing payment to the plaintiff company for goods supplied to the defendants' company up to an agreed limit.}{\f0\lang2057\langfe5129\langnp2057\insrsid12404853  }{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 
In its writ the plaintiff compan}{\f0\lang2057\langfe5129\langnp2057\insrsid12404853 y claims the following relief:}{\f0\lang2057\langfe5129\langnp2057\insrsid15227959 
\par }{\f0\lang2057\langfe5129\langnp2057\insrsid12404853\charrsid12404853 
\par }\pard \ql \fi-731\li1440\ri720\nowidctlpar\tx-1440\faauto\rin720\lin1440\itap0\pararsid12404853 {\b\i\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 {\*\bkmkstart QuickMark}{\*\bkmkend QuickMark}"(a)\tab 
The sum of NZ$102,150.00 being the sum of NZ$90,000 together with one year's interest thereon at 13.5% per annum}{\b\i\f0\lang2057\langfe5129\langnp2057\insrsid12404853 ;}{\b\i\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853  
\par 
\par (b)\tab Interest on such sum from the 1st September 1987 until payment or judgment under the Law Reform (Misc Provisions), (Death and Interest) Act Cap. 27}{\b\i\f0\lang2057\langfe5129\langnp2057\insrsid12404853 ;}{
\b\i\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853  
\par 
\par (c)\tab Such other relief as this Honourable Court deems just}{\b\i\f0\lang2057\langfe5129\langnp2057\insrsid12404853 ;}{\b\i\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853  
\par 
\par (d)\tab Costs."
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid12404853 {\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 
\par The writ was served on each of the 5 named defendants who, with the exception of the 3rd defendant, entered appearances through their solicitors.
\par 
\par On the }{\b\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 9th of August 1988}{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853  in the absence of any defence being filed by or on behalf of the defendants, }{
\i\f0\lang2057\langfe5129\langnp2057\insrsid14370078 '}{\i\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 default judgment'}{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853  was entered in the following terms}{
\f0\lang2057\langfe5129\langnp2057\insrsid12404853 :}{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853  
\par 
\par }\pard \ql \li720\ri720\nowidctlpar\faauto\rin720\lin720\itap0\pararsid12404853 {\b\i\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 
"No defence having been served by the first, second, fourth and fifth defendants herein IT IS THIS DAY ADJUDGED that the first, second, fourth and fifth defendants do pay the Plaintiff the sum of NZ$102,150.00, $80.00 costs plus interest to be assessed."}
{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid12404853 {\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 
\par No application has been made to set aside the }{\i\f0\lang2057\langfe5129\langnp2057\insrsid14370078 '}{\i\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 default judgment'}{
\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853  which appears to have been accepted by the defendants who paid it off over some 5 odd years after judgment was entered, with the first payment being made on the }{
\b\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 15th of April 1989}{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853  and the last payment on the }{
\b\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 9th of September 1993}{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 .
\par 
\par A month after the final payment was made the solicitors for the plaintiff company wrote to the defendant company on the }{\b\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 19th of October 1993}{
\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853  demanding the payment of interest at the rate of }{\b\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 13.5%}{
\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853  on a reducing balance over the several years that the judgment debt was repaid and which amounted to }{\b\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 F$33,411.95}{
\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 .
\par 
\par No response was received from the defendants and this prompted the plaintiff company to issue a notice of intention to proceed on the }{\b\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 2nd of February 1992}{
\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853  which was eventually served on the first named defendant some 2 years later on the }{\b\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 28th of February, 1994}{
\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 .
\par 
\par Then on the }{\b\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 14th of April 1994}{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853  the solicitors of the plaintiff company issued a Summons to fix a date to hear:}{
\f0\lang2057\langfe5129\langnp2057\insrsid15227959 
\par }{\f0\lang2057\langfe5129\langnp2057\insrsid12404853\charrsid12404853 
\par }\pard \ql \li720\ri720\nowidctlpar\faauto\rin720\lin720\itap0\pararsid12404853 {\b\i\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 
"An application on behalf of the Plaintiff that the Court assess interest on the sum of NZ$120,150 in accordance with the claim for interest in the Statement of Claim and for an Order that the Defendants pay the costs of this application."}{
\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid12404853 {\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 
\par After several adjournments the plaintiff's summons was argued before me on the }{\b\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 27th of September '94}{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 .}{
\f0\lang2057\langfe5129\langnp2057\insrsid12404853  }{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 Learned counsel for the plaintiff company briefly outlined the history of the proceedings and after referring to }{
\b\i\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 para (b)}{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853  of the relief claimed in the Writ and the terms of the }{
\i\f0\lang2057\langfe5129\langnp2057\insrsid14370078 '}{\i\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 default judgment'}{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 
 submitted that, considering the time taken by the defendants to pay off the judgment debt and the numerous indulgences granted by the plaintiff company, the Court should order interest on the judgment debt in two (2) categories}{
\f0\lang2057\langfe5129\langnp2057\insrsid12404853 :}{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853  
\par 
\par }\pard \ql \fi-720\li1440\ri720\nowidctlpar\tx-1440\faauto\rin720\lin1440\itap0\pararsid12404853 {\b\i\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 (1)\tab from the date of demand to the date of judgment}{
\b\i\f0\lang2057\langfe5129\langnp2057\insrsid12404853 ;}{\b\i\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853  and 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid12404853 {\b\i\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 
\par }\pard \ql \fi-720\li1440\ri720\nowidctlpar\tx-1440\faauto\rin720\lin1440\itap0\pararsid12404853 {\b\i\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 (2)\tab from the date of judgment until the date of the final payment.}{
\f0\ul\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid12404853 {\f0\ul\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 
\par }{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 Counsel also claimed to be entitled to interest at the rate of }{\b\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 13.5%}{
\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853  on the basis that it was the current rate of interest charged by commercial banks on over-draft facilities.
\par 
\par Counsel for the defendants in opposing the claim for interest submitted that any interest granted should be strictly limited to the plaintiff company's statutory entitlement and, in the a
bsence of any agreement, no interest should be awarded under the plaintiff's }{\b\i\f0\lang2057\langfe5129\langnp2057\insrsid14370078 '}{\b\i\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 second category'}{
\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 .}{\f0\lang2057\langfe5129\langnp2057\insrsid12404853  }{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 Counsel also vigorously opposed the }{
\f0\lang2057\langfe5129\langnp2057\insrsid14370078 '}{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 rate' of interest proposed and submitted that the fairer rate would be that charged by commercial banks on short term fixed
 deposits which is said to be in the vicinity of 3-5% per annum.
\par 
\par Dealing then with counsel's }{\b\i\f0\lang2057\langfe5129\langnp2057\insrsid14370078 '}{\b\i\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 first category' }{\i\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 
of interest,}{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853  }{\b\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 Section 3}{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853  of the }{
\b\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 Law Reform}{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853  }{\i\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 
(Misc. Provisions) (Death and Interest)}{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853  }{\b\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 Act}{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 
 Cap 27 provides}{\f0\lang2057\langfe5129\langnp2057\insrsid12404853 :}{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853  
\par 
\par }\pard \ql \fi-720\li1440\ri720\nowidctlpar\tx-1440\faauto\rin720\lin1440\itap0\pararsid12404853 {\b\i\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 "3.\tab In any proceeding tried in the Suprem
e Court for the recovery of any debt or damages, the Court may, if it thinks fit, order that there shall be included in the sum for which judgment is given interest at such rate as it thinks fit on the whole or any part of the debt or damages for the whol
e or any part of the period between the date when the cause of action arose and the date of the judgment."}{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid12404853 {\i\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 (hereafter referred to as the }{\b\f0\lang2057\langfe5129\langnp2057\insrsid14370078 '}{
\b\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 Section'}{\i\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 )}{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid12404853 {\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 
\par It will be seen at once that the court is granted a broad discretion to award interest }{\b\i\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 "... in any proceedings tried ... for the recovery of any debt"}{
\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 .}{\f0\lang2057\langfe5129\langnp2057\insrsid12404853  }{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 
No issue was raised on the meaning of those words in view of the fact that this case concerned a }{\i\f0\lang2057\langfe5129\langnp2057\insrsid14370078 '}{\i\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 default judgment'}{
\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 , but in light of the decision of }{\b\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 Drake J.}{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 
 in }{\b\f0\ul\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 Alex Lawrie Factors v. Modern Injection Moulds}{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853  }{
\i\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 (1981) 3 ALL E.R. 658}{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853  and the judgment of the }{
\b\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 Fiji Court of Appeal}{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853  in }{\b\f0\ul\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 
Jai Narayan v. Savita Chandra}{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853  }{\i\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 Civil Appeal 37 of 1985}{
\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853  (unreported) it must be taken as settled that interest may be awarded under the }{\b\f0\lang2057\langfe5129\langnp2057\insrsid14370078 '}{
\b\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 Section'}{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853  where a }{\i\f0\lang2057\langfe5129\langnp2057\insrsid14370078 '}{
\i\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 default judgment'}{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853  has been regularly entered.
\par 
\par In this case there can be no doubt that the plaintiff company claimed interest under the above provision in its Writ and further that }{\i\f0\lang2057\langfe5129\langnp2057\insrsid14370078 '}{
\i\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 default judgment'}{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853  was clearly entered for }{
\b\i\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 "interest to be assessed"}{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 .
\par 
\par In this latter regard however learned counsel for the plaintiff company submits that until interest has been assessed there has been no judgment for interest which would fix the rate and duration.}{\f0\lang2057\langfe5129\langnp2057\insrsid12404853  }{
\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 I disagree.}{\f0\lang2057\langfe5129\langnp2057\insrsid12404853  }{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 
The entry of default judgment in this case was a judgment not only for the liquidated sum claimed in }{\b\i\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 para (a)}{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 
 but also for interest under }{\b\i\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 para (b)}{\b\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853  }{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 
of the reliefs sought in the }{\b\f0\ul\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 Statement of Claim}{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 
, and the absence of any assessment thereafter does not alter the character or terms of the }{\i\f0\lang2057\langfe5129\langnp2057\insrsid14370078 '}{\i\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 default judgment'}{
\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853  entered.}{\f0\lang2057\langfe5129\langnp2057\insrsid12404853  }{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 Nor in my view can the clear limitation of the }{
\b\f0\lang2057\langfe5129\langnp2057\insrsid14370078 '}{\b\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 Section'}{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 
 be so easily over-ridden or extended by the mere delay in obtaining an assessment.
\par 
\par I am fortified in my view by the judgment of the }{\b\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 House of Lords}{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853  in }{
\b\f0\ul\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 Hunt v. R.M. Douglas (Roofing) Ltd}{\b\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 .}{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853  }{
\i\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 (1988) 3 W.L.R. 975}{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853  which established the 
principle that interest on awards of costs ran from the date upon which judgment was pronounced and not from the date upon which the taxation of costs was thereafter completed by the issue of the taxing master's certificate.}{
\f0\lang2057\langfe5129\langnp2057\insrsid12404853  }{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 In particular, }{\b\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 Lord Ackner}{
\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853  in rejecting the argument that an order for payment of costs to be taxed cannot be a }{\b\i\f0\lang2057\langfe5129\langnp2057\insrsid14370078 '}{
\b\i\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 judgment debt'}{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853  said at }{\b\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 p.988}{
\f0\lang2057\langfe5129\langnp2057\insrsid12404853 :}{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853  
\par 
\par }\pard \ql \li720\ri720\nowidctlpar\faauto\rin720\lin720\itap0\pararsid12404853 {\b\i\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 
"... a judgment for costs to be taxed is to be treated in the same way as a judgment for damages to be assessed, where the amount ultimately ascertained is treated as if it was mentioned in the judgment - no further order being required."}{
\b\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid12404853 {\b\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 
\par }{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 The }{\b\f0\lang2057\langfe5129\langnp2057\insrsid14370078 '}{\b\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 Section'}{
\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853  expressly limits any award of interest to }{\b\i\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 
"... the period between when the cause of action arose and the date of judgment ..."}{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 , and given the judgment of the }{
\b\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 Fiji Court of Appeal}{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853  in }{\b\f0\ul\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 
Queensland Insurance v. Surendra Prasad}{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853  }{\i\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 Civil Appeal No. 24 of 1989}{
\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853  that}{\f0\lang2057\langfe5129\langnp2057\insrsid12404853 :}{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 
\par 
\par }\pard \ql \li720\ri720\nowidctlpar\faauto\rin720\lin720\itap0\pararsid12404853 {\b\i\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 "Under Section 3 (the Court) could only award interest to the date of judgment."}{
\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid12404853 {\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 
\par it is clear that any award of interest under the }{\b\i\f0\lang2057\langfe5129\langnp2057\insrsid14370078 '}{\b\i\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 second category'}{
\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853  enumerated by learned counsel for the plaintiff company could not be granted under the }{\b\f0\lang2057\langfe5129\langnp2057\insrsid14370078 '}{
\b\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 Section'}{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 .}{\f0\lang2057\langfe5129\langnp2057\insrsid12404853  }{
\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 It is equally clear that the court is given a discretion under the }{\b\f0\lang2057\langfe5129\langnp2057\insrsid14370078 '}{
\b\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 Section'}{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853  to award interest at such rate as the court thinks fit on the }{
\b\i\f0\lang2057\langfe5129\langnp2057\insrsid14370078 '}{\b\i\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 first category'}{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 
 put forward by learned counsel for the plaintiff company.
\par 
\par In this latter regard counsel for the plaintiff company referred to two judgments of the }{\b\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 Fiji Court of Appeal}{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853  in 
}{\b\f0\ul\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 Maganlal Bros. Ltd. v. L.B. Narayan & Co}{\b\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 . }{
\i\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 Civil Appeal No. 31 of 1984}{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853  and }{\b\f0\ul\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 Jai Na
rayan v. Savita Chandra}{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853  }{\i\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 (op. cit)}{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 
 in which the }{\b\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 Court of Appeal}{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853  awarded interest at the rate of }{
\b\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 13.5% per annum}{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 .
\par 
\par The only question that remains is}{\f0\lang2057\langfe5129\langnp2057\insrsid12404853 :}{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853  Should the Court award the plaintiff company interest under the }{
\b\f0\lang2057\langfe5129\langnp2057\insrsid14370078 '}{\b\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 Section'}{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 ?}{
\f0\lang2057\langfe5129\langnp2057\insrsid12404853  }{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 In }{\b\f0\ul\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 Riches v. Westminster Bank Ld}{
\b\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 . }{\i\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 (1947) A.C. 390}{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 , }{
\b\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 Lord Wright }{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 described the classic rationale for an award of }{\b\f0\lang2057\langfe5129\langnp2057\insrsid14370078 
'}{\b\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 interest'}{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853  when he said at }{\b\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 p.400}{
\f0\lang2057\langfe5129\langnp2057\insrsid12404853 : }{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 
\par 
\par }\pard \ql \li720\ri720\nowidctlpar\faauto\rin720\lin720\itap0\pararsid12404853 {\b\i\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 
"... the essence of interest is that it is a payment which becomes due because the creditor has not had his money at the due date.}{\b\i\f0\lang2057\langfe5129\langnp2057\insrsid12404853  }{
\b\i\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 It may be regarded either as representing the profit he might have made if he had had the use of the money, or conversely the loss he suffered because he had not that use.}{
\b\i\f0\lang2057\langfe5129\langnp2057\insrsid12404853  }{\b\i\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 The general idea is that he is entitled to compensation for the deprivation.}{
\b\i\f0\lang2057\langfe5129\langnp2057\insrsid12404853  }{\b\i\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 From that point of
 view it would seem immaterial whether the money was due to him under a contract express or implied or a statute or whether the money was due for any other reason in law.}{\b\i\f0\lang2057\langfe5129\langnp2057\insrsid12404853  }{
\b\i\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 In either case the money was due to him and was not paid, or in other words was withh
eld from him by the debtor after the time when payment should have been made, in breach of his legal rights, and interest was a compensation, whether the compensation was liquidated under an agreement or statute, ... or was unliquidated and claimable unde
r [S.3 Law Reform Misc. Provision}{\i\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853  }{\b\i\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 Act 1934 (U.K.)] as in the present case.}{
\b\i\f0\lang2057\langfe5129\langnp2057\insrsid12404853  }{\b\i\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 The essential quality of the claim for compensation is the same and the compensation is properly described as interest ..."}{
\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid12404853 {\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 
\par Viewed in that light there is no doubt in my mind that the plaintiff company should be compensated by way of an award of interest.}{\f0\lang2057\langfe5129\langnp2057\insrsid12404853  }{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 
The }{\b\f0\lang2057\langfe5129\langnp2057\insrsid14370078 '}{\b\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 Section'}{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853  however contains the following relevant }{
\i\f0\lang2057\langfe5129\langnp2057\insrsid14370078 '}{\i\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 provisos'}{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853  where it says}{
\f0\lang2057\langfe5129\langnp2057\insrsid12404853 :}{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 
\par 
\par }\pard \ql \li720\ri720\nowidctlpar\faauto\rin720\lin720\itap0\pararsid12404853 {\b\i\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 "Provided that nothing in this section -
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid12404853 {\b\i\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 
\par }\pard \ql \fi-720\li1440\ri720\nowidctlpar\tx-1440\faauto\rin720\lin1440\itap0\pararsid12404853 {\b\i\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 (a)\tab Shall authorise the giving of interest on interest; or
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid12404853 {\b\i\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 
\par }\pard \ql \fi-720\li1440\ri720\nowidctlpar\tx-1440\faauto\rin720\lin1440\itap0\pararsid12404853 {\b\i\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 (b)\tab 
Shall apply in relation to any debt upon which interest is payable as of right, whether by virtue of any agreement or otherwise."}{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid12404853 {\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 
\par In this latter regard it is common ground that the liquidated amount claimed in }{\b\i\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 para (a)}{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 
 of the reliefs sought in the }{\b\f0\ul\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 Statement of Claim}{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853  is comprised of a principal sum of}{
\f0\lang2057\langfe5129\langnp2057\insrsid12404853 :}{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853  }{\b\i\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 
"N.Z. $90,000 together with one year's interest thereon at 13.5% per annum."}{\f0\lang2057\langfe5129\langnp2057\insrsid12404853  }{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 Furthermore the }{
\b\f0\ul\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 Deed of Guarantee}{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853  upon which the plaintiff company's claim was based contained an express agreement by the def
endants to pay a sum equal to one year's interest on an agreed maximum amount to be computed at the prevalent rate charged by commercial banks in Fiji on overdraft accounts.
\par 
\par In the circumstances the plaintiff company's claim for interest under the }{\b\f0\lang2057\langfe5129\langnp2057\insrsid14370078 '}{\b\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 Section'}{
\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853  falls fairly and squarely within the above-mentioned exclusions in the }{\i\f0\lang2057\langfe5129\langnp2057\insrsid14370078 '}{
\i\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 proviso'}{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853  and accordingly I hold that no award may be made under }{
\b\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 Section 3}{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853  of the }{\b\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 Law Reform}{
\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853  }{\i\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 (Misc. Provisions) (Death & Interest)}{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853  }{
\b\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 Act}{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853  Cap. 27.}{\f0\lang2057\langfe5129\langnp2057\insrsid12404853  }{
\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 The claim under }{\b\i\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 para (b)}{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853  of the prayer
s for relief must be and is hereby dismissed.
\par 
\par I turn next to the }{\b\i\f0\lang2057\langfe5129\langnp2057\insrsid14370078 '}{\b\i\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 second category'}{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 
 of interest claimed namely, from the date of judgment until the date of final payment.}{\f0\lang2057\langfe5129\langnp2057\insrsid12404853  }{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 
Upon this category little assistance was provided by counsel for the plaintiff company who appeared to base this part of the claim on }{\b\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 Section 3}{
\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853  of the }{\b\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 Law Reform Act}{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853  }{
\i\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 (ibid)}{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 .}{\f0\lang2057\langfe5129\langnp2057\insrsid12404853  }{
\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 Equally learned counsel for the defendants in opposing it merely asserted that the plaintiff company should not have accepted any payments from the defendants without 
first obtaining an assessment of the interest payable on the judgment debt.
\par 
\par The position with regards }{\i\f0\lang2057\langfe5129\langnp2057\insrsid14370078 '}{\i\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 post-judgment interest'}{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 
 was recently dealt with in the judgment of the Fiji Court of Appeal in }{\b\f0\ul\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 John Byrne and Anor v. J.S. Hill and Associates}{
\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853  }{\i\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 Civil Appeal No. 33/93}{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 
 (unreported) where the court accepted that pursuant to }{\b\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 Section 22}{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853  of the }{
\b\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 High Court Act }{\i\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 (Cap.}{\i\f0\lang2057\langfe5129\langnp2057\insrsid14370078  }{
\i\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 13)}{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853  the provisions of the }{\b\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 
Judgments Act 1838 }{\i\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 (U.K.)}{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853  continues to apply in Fiji.
\par 
\par In this latter regard }{\b\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 Section 17}{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853  of the }{\b\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 
Judgments Act 1838}{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853  provides}{\f0\lang2057\langfe5129\langnp2057\insrsid12404853 :}{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 
\par 
\par }\pard \ql \li720\ri720\nowidctlpar\faauto\rin720\lin720\itap0\pararsid12404853 {\b\i\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 
"Every judgment debt shall carry interest at the rate of four pounds per centum per annum from the time of entering up the judgment ... until the same shall be satisfied."}{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid12404853 {\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 
\par Of this section the }{\b\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 Court of Appeal}{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853  said in }{
\b\f0\ul\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 Byrne's}{\b\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853  case at }{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 p.26}{
\b\f0\lang2057\langfe5129\langnp2057\insrsid12404853 :}{\b\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 
\par 
\par }\pard \ql \li720\ri720\nowidctlpar\faauto\rin720\lin720\itap0\pararsid12404853 {\b\i\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 "Its provisions are mandatory}{\b\i\f0\lang2057\langfe5129\langnp2057\insrsid12404853 :}{
\b\i\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853  interest is payable at the rate of 4%.}{\b\i\f0\lang2057\langfe5129\langnp2057\insrsid12404853  }{\b\i\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 
That is unrealistic in the current economic climate ...}{\b\i\f0\lang2057\langfe5129\langnp2057\insrsid12404853  }{\b\i\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 
However unless and until (amended), the Court's have no power to award interest after judgment at any rate other than 4%."}{\i\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid12404853 {\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 
\par }\pard \ql \li720\ri720\nowidctlpar\faauto\rin720\lin720\itap0\pararsid12404853 {\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 (See also the observations of }{\b\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 
Denning L.J.}{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853  in }{\b\f0\ul\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 Jefford v. Gee}{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853  }{
\i\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 (1970) 2 Q.B. 130}{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853  at 148)
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid12404853 {\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 
\par Accordingly there will be judgment entered in favour of the plaintiff company for interest at the rate of }{\b\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 4%}{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853  }{
\b\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 per annum}{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853  on the judgment debt of }{\b\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 $102,150}
{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853  calculated from the }{\b\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 9th of August 1988}{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 
 until the }{\b\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 9th of September 1993}{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853  }{\i\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 
(to be computed by learned counsel for the plaintiff company and attached to the court's order when submitted for sealing).}{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 
\par 
\par The plaintiff company is also granted the costs of this application to be taxed if not agreed.
\par 
\par }\pard \qc \li0\ri0\nowidctlpar\tqc\tx3969\faauto\rin0\lin0\itap0\pararsid12404853 {\b\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 (D.V. Fatiaki)
\par }{\b\f0\ul\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 JUDGE}{\b\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid12404853 {\b\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 
\par At Suva,
\par 27th January, 1995.
\par }\pard \qr \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid12404853 {\f0\lang2057\langfe5129\langnp2057\insrsid12404853 HBC0228J.88S}{\f0\lang2057\langfe5129\langnp2057\insrsid15227959\charrsid12404853 
\par }}