Westpac New Zealand Limited v Hadlow

[2013] NZHC 829

IN THE HIGH COURT OF NEW ZEALAND AUCKLAND REGISTRY

CIV-2012-404-003521 [2013] NZHC 829

BETWEEN  WESTPAC NEW ZEALAND LIMITED Plaintiff

ANDCAMERON GROSVENOR HADLOW Defendant

Hearing:         (On the papers) Judgment:       19 April 2013

RESERVED JUDGMENT OF ASSOCIATE JUDGE SARGISSON (Interest and costs)

This judgment was delivered by me on 19 April 2013 at 4.00 pm pursuant to

Rule 11.5 of the High Court Rules

Registrar/Deputy Registrar

Date ..........................

Solicitors:

Minter Ellison Rudd Watts, PO Box 3798, Auckland 1140

Hucker & Associates, PO Box 3843, Auckland 1140

WESTPAC NEW ZEALAND LIMITED V HADLOW HC AK CIV-2012-404-003521 [19 April 2013]

[1]      In the judgment I issued on the plaintiff’s summary judgment application on

15 March 2013 I gave leave to the plaintiff to file and serve a memorandum as to interest and costs supported by affidavit evidence:

(a)      Deposing to the interest rate applicable under the development loan agreement from 23 November 2011 to the date of judgment and the sum claimed for that period.

(b)      Updating and deposing to the legal costs that are claimed.

[2]      I also reserved leave to the defendant to file and serve a memorandum by 5

April should he wish to be heard on the plaintiff’s calculation of interest or the

reasonableness of the costs claimed.

[3]      The defendant has not filed a memorandum and I proceed on the basis that he does not take issue with the plaintiff’s calculation of interest or the reasonableness of the costs claimed.

[4]      I am satisfied on the material filed that the plaintiff has an entitlement to the interest claimed and the solicitor client costs claimed pursuant to the defendant’s guarantee.

[5]      Accordingly I give judgment against the defendant for interest in the amount of $237,984.84 together with solicitor client costs of $81,158.95.  These sums are ordered in addition to the judgment sum of $869,244.40 ordered in my judgment of

15 March 2013. The total award is therefore $1,188,388.19.

Associate Judge Sargisson