Tin-Tagel Majikk Pty Limited v Hockey (No 2)

The case before the court involved a dispute between Tin-Tagel Majikk Pty Limited and Hockey (No 2). The central issue pertained to the calculation of interest under an agreement, specifically whether the interest accrued should have been greater due to the failure of a party to provide consent to the transfer of controlled monies. Additionally, the court had to determine the validity of an offer of compromise, whether it was no less favourable than the order or judgment obtained, and whether interest on a judgment debt should be taken into account when assessing such an offer. The court also considered whether a gross sum costs order should be made.

The court first addressed the calculation of interest, noting that the agreement between the parties provided for a specific method of calculation. Despite the failure to obtain consent for the transfer of controlled monies, the court held that no issue was raised in the substantive proceedings regarding the interest calculation. Therefore, the interest was calculated in accordance with the agreement. The court then examined the offer of compromise, concluding that it was valid and no less favourable than the order obtained. However, the court determined that interest on a judgment debt should not be taken into account when assessing the offer. The court exercised its discretion not to award indemnity costs, instead making an ordinary costs order. Finally, the court found that there was no basis for a gross sum costs order due to limited evidence regarding the calculation of actual costs.