Sutherland v Ghougassian (No 3)

The dispute in this matter involved the calculation of interest on moneys secured by mortgage between the parties. The matter was before the Supreme Court of New South Wales, and the case was the third iteration in the ongoing dispute between the parties. The plaintiff, Sutherland, sought to have the interest on the mortgage calculated in a particular way, while the defendant, Ghougassian, disagreed with this approach. The court was required to determine the correct method of calculating the interest and whether the orders made were in accordance with the reasons given.

The legal issues before the court involved the interpretation of the mortgage and the calculation of interest on the sums owed. The court needed to consider the terms of the mortgage, the amount of advances and repayments, and the applicable rate of interest. The court also had to consider whether the interest should be calculated on a simple or compound basis and whether any consideration should be given to the provision for profit. The court needed to determine the correct approach to calculating the interest and whether the orders made were in accordance with the reasons given.

The court found that the interest on the mortgage should be calculated on a compound basis at the non-default rate of interest. The court also found that the provision for profit should not be considered in the calculation of interest. The court found that the orders made were not in accordance with the reasons given, and the matter was relisted for further argument. Neither party disputed the reconsideration of the questions.

The final orders of the court were not included in the text provided. However, it is likely that the court will make orders that reflect its findings on the calculation of interest and the provision for profit. The court may also make orders regarding the costs of the proceedings.