Public Trust as Trustee of the Abrie Trading Trust v Abrie

[2012] NZHC 652

IN THE HIGH COURT OF NEW ZEALAND TAURANGA REGISTRY

CIV-2012-470-11 [2012] NZHC 652

BETWEEN  PUBLIC TRUST AS TRUSTEE OF THE ABRIE TRADING TRUST

Plaintiff

ANDISABELLA CORNELIA ABRIE Defendant

Hearing:         23 March 2012

Appearances: Mr M Ward-Johnson for plaintiff (on papers) Judgment:        4 April 2012

JUDGMENT OF ASSOCIATE JUDGE DOOGUE [on INTEREST]

This judgment was delivered by me on

04.04.12 at 2 pm, pursuant to

Rule 11.5 of the High Court Rules.

Registrar/Deputy Registrar

Date……………

Solicitors:

Mr M Ward-Johnson, Tauranga - [email protected]

Copy: The Defendant /Mr Nieuwhof

PUBLIC TRUST AS TRUSTEE OF THE ABRIE TRADING TRUST V ABRIE HC TAU CIV-2012-470-11 [4

April 2012]

[1]      I earlier gave judgment in this matter in the sum of $777,066.89 on 23 March

2012.  The plaintiff sought interest pursuant to s 87 of The Judicature Act 1908.  The plaintiff claimed that interest should be paid from the date that Heath J gave a decision in relationship property proceedings to the effect that the transfer of the dental practice from the plaintiff to a second trust was not efficacious or justified.  In the course of  giving judgment on  23 March  2012  I questioned with  Mr Ward- Johnson whether a blanket award of interest from the date nominated was justified or whether interest ought to be awarded from the dates when it could be demonstrated the plaintiff trust suffered loss as a result of breach of trust.

[2]      Mr  Ward-Johnson  has  obtained  further  evidence  setting  out  calculations showing a progressive calculation of interest which comes to a total of $196,275.59. I am satisfied that the approach underlying the calculation together with the calculations based upon that approach and the application of s 87 of the Judicature Act 1908 justify an award of interest as sought and I therefore enter judgment for interest in the sum of $196,275.59 in accordance with the calculations set out in

counsel’s memorandum dated 30 March 2012.

J.P. Doogue

Associate Judge