NC & DC v T Ltd & HG [2023] NZDT 222 (19 May 2023) [pdf, 198 KB]
...NC and DC claim 14.5% interest on the $3000.00? 22. Interest may be granted if it is a reasonable contractual term between the parties or at the discretion of the referee. In the absence of a contractual term, I may apply the process used in the Civil Debt Interest Calculator to calculate the interest. 23. Once the contract was cancelled and because no work was carried out on the property T Ltd should have returned NC and DC’s $3000.00. Because T Ltd has had the benefit of that p...