Sporco Investments Pty Ltd v Le Messurier (No 2)

Sporco Investments Pty Ltd sought to recover unpaid rent from Le Messurier, the defendant, after terminating a lease. The dispute came before the court following an earlier judgment on 24 April 2023, which had determined the amount of lost rent but not the interest owed on it. The interest on the unpaid and lost rent was the primary subject of this case, with the plaintiff arguing for an additional sum of $43,416. The defendant contested this amount, leading to a detailed examination of the applicable interest rates and periods. The court was required to decide on the appropriate rate of interest and the period for which it should be calculated, along with the defendant's liability for the plaintiff's costs.

The court considered statutory provisions and precedent to determine the applicable interest rate. It held that the statutory rate, as provided by the relevant legislation, was applicable. The court further concluded that the interest should be calculated from the date of the original judgment until the date of the current judgment. Given the specific terms of the lease and the statutory provisions, the court found that the plaintiff was entitled to the full amount of $43,416 as interest on the unpaid and lost rent. The court also ordered the defendant to pay the plaintiff's costs on a party-party basis, reflecting the outcome of the proceedings.

In summary, the court found in favour of the plaintiff, awarding the full amount of $43,416 as interest on the unpaid and lost rent. Additionally, the defendant was ordered to pay the plaintiff's costs of the proceedings on a party-party basis. This decision clarifies the interest owed on lost rent and establishes the defendant's financial liability in this matter.