FM Custodians Limited v New Millennium Design Limited HC Christchurch CIV 2010-409-1840

[2010] NZHC 2248

IN THE HIGH COURT OF NEW ZEALAND CHRISTCHURCH REGISTRY

CIV-2010-409-001840

BETWEEN  FM CUSTODIANS LIMITED Plaintiff

ANDNEW MILLENNIUM DESIGN LIMITED First Defendant

ANDELEFTARIOUS SEREPISOS Second Defendant

Hearing:         13 December 2010

Appearances: S Caradus for Plaintiff

No appearance for Defendants

Judgment:      14 December 2010

JUDGMENT OF ASSOCIATE JUDGE OSBORNE

pursuant to Tomlin Orders

[1]      The plaintiff applies for judgment.

[2]      On 6 October 2010 the Court made a Tomlin Order by consent.

[3]      The defendants jointly and severally agreed to judgment on defined terms if the defendants did not pay the plaintiff $6,415,379.91 on or before 31 October 2010.

[4]      The evidence of Graeme Douglas Reid establishes that up to today’s date the defendants   paid   to   the   plaintiff   on   account   of   the   agreed   settlement   sum

$3,291,061.80.

FM CUSTODIANS LIMITED V NEW MILLENNIUM DESIGN LIMITED AND ANOR HC CHCH CIV-

2010-409-001840  14 December 2010

[5]      There will be judgment for the plaintiff against the defendants jointly and severally in the following sums:

a)        Judgment for the balance of the settlement sum of $3,124,318.10.

b)Interest on the balance of the settlement sum at the contractual rate to today’s date in the sum of $67,536.20.

c)        Interest on the judgment sums at the contractual rate of 17.25 per cent per annum from today’s date to the date of actual payment.

ASSOCIATE JUDGE OSBORNE

NOTICE REQUIREMENT

The solicitors on the record for the parties are promptly to provide a copy of this

Minute to their clients (r 5.43).