Kronenberg v Bridge (No 2)

The appellants, Kronenberg, appealed to the Full Court of the Supreme Court of South Australia against a judgment entered in favour of the respondent, Bridge, in an action concerning misleading and deceptive conduct. The dispute involved the assessment of damages arising from this conduct, specifically relating to increased borrowings incurred by the appellants.

The central legal issues before the Full Court were the appropriate method for assessing compensation for the delay in obtaining payment of assessed damages, and whether the award should be based on compound interest. The court was required to determine how to compensate the appellants for the financial loss incurred due to the respondent's conduct, which resulted in the appellants having to borrow money to cover their losses.

The Full Court allowed the appeal, setting aside the previous judgment and quashing the determination made on the counterclaim. The court entered judgment for the appellants against the respondent for the sum of $299,899.88. Furthermore, the respondent was ordered to repay $37,962 to the appellants, with interest of $2,047.77. The respondent was also ordered to pay the appellants' costs of the action and counterclaim, with a distinction in the basis of taxation from 10 August 2012, and to pay the appellants' costs of the appeal, being granted an indemnity certificate.