In the Sleight v Beckia Holdings Ltd & ors  NZHC 456 judgment about costs and interest Gendall J ordered IAG to pay interest at 5% pa from June 2015 under s87 of the Judicature Act 1908 on the costs to repair the Sleights’ house at 24 Kinnaird Place, Christchurch. He ordered interest from the date that IAG was made aware that its original earthquake repairs were defective in June 2015. He awarded interest on the cost of the repairs as quantified in mid/late 2020. Homeowners with failed earthquake repairs ought to seek interest from when EQC/Insurer should have know about the problem. As the Sleights commenced the proceeding pre 1 January 2018 the Interest on Money Claims Act 2016 did not apply. IAG has appealed this judgment.
0 0 Grant Shand Grant Shand2021-07-08 00:40:522021-07-08 00:40:52Insurance payments and Interest