Judical modernisation – Interest & DC limit to $350,000


The Judicial Modernisation Bill has now been subdivided into subsidiary bills – one of which is the Interest on Money Claims Bill and another that deals with the District Court.  It has now passed through the House committee stage with only its third reading and Royal Assent to go.  Good for claimants and bad for EQC it now provides that a defendant is liable to pay interest where the defendant pays money to settle the claim after proceedings commenced, but before any judgment.  Previously the High Court had refused to order EQC to pay interest under the Judicature Act.  The District Court bill increases the limit of the District Court to $350,000.