Sheldrake v Paltoglou

[2006] QCA 400

SUPREME COURT OF QUEENSLAND

CITATION:

Sheldrake & Anor v Paltoglou [2006] QCA 400

PARTIES:

JUSTIN SHELDRAKE
(applicant/appellant/applicant)
DENNIS OFFERMANS
(applicant/appellant/applicant)
v
BRONWYN PALTOGLOU
(respondent)

FILE NO/S:

Appeal No 7047 of 2005
DC No 431 of 2003

DIVISION:

Court of Appeal

PROCEEDING:

General Civil Appeal - Further Order (Interest)

ORIGINATING COURT:

District Court at Cairns

DELIVERED EX TEMPORE ON:

13 October 2006

DELIVERED AT:

Brisbane

HEARING DATE:

13 October 2006

JUDGES:

McMurdo P and Keane and Holmes JJA
Separate reasons for judgment of each member of the Court, each concurring as to the order made

ORDER:

1.   Ms Paltoglou to pay the liquidators' interest

a)   in the sum of $15,443.41 for the period 12 August 2003 to 3 March 2006;

b)     at the rate of $18.35 per day from and including 4 March 2006 until payment

2.   Ms Paltoglou to pay the liquidators' costs of this 
     application

CATCHWORDS:

PROCEDURE - JUDGMENTS AND ORDERS - INTEREST ON JUDGMENTS - IN GENERAL - this Court ordered respondent to pay sum to appellants - this Court ordered that the amount of the appellants' entitlement to interest on the sum be reserved for further consideration if not agreed - parties have been unable to agree - appellant seek order for payment of interest

Supreme Court Act 1995 (Qld), s 47, s 48

COUNSEL:

A A Evans (sol) for the appellant
The respondent appeared on her own behalf by telephone

SOLICITORS:

MacDonnells Law for the appellant
The respondent appeared on her own behalf by telephone

KEANE JA: On 3 March 2006, the Court of Appeal made an order pursuant to s 588F of the Corporations Act 2001 (Cth), that Ms Paltoglou pay to Messrs Sheldrake and Offermans, as liquidators of Going Bananas Restaurant (Qld) Pty Ltd, the sum of $66,985.68 (see Sheldrake & Anor v Paltoglou [2006] QCA 52).

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) 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:  I agree.

HOLMES JA:  I agree.

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

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