Permanent Trustee Australia Ltd v FAI General Insurance Co Ltd (In Liq)

HIGH COURT OF AUSTRALIAMcHUGH, GUMMOW, KIRBY, HAYNE AND CALLINAN JJPERMANENT TRUSTEE AUSTRALIA   APPELLANTSLIMITED & ANORANDFAI GENERAL INSURANCE COMPANY  RESPONDENTLIMITED (IN LIQ)Permanent Trustee Australia Limited vFAI General Insurance Company Limited (In Liq)[2003] HCA 258 May 2003S124/2002ORDER1.Appeal allowed with costs.2.Set aside the orders of the New South Wales Court of Appeal dated 12 March 2001 and, in place thereof, order that:(a)   the appeal to that Court be allowed with costs,(b)   the orders made by Hodgson CJ in Eq in proceeding No. 3032 of 1996 dated 24 April 1998, as varied on 28 May 1998, be set aside and, in lieu thereof, order that:(i)judgment be entered for the appellants in the sum of $211,862.82 together with interest thereon pursuant to s 57 of the Insurance Contracts Act 1984 (Cth) from the date of payment by the appellants of each component of the judgment sum; and(ii)the respondent pay the costs of the appellants at first instance;(c)    the orders made by Hodgson CJ in Eq in proceeding No. 3037 of 1996 dated 24 April 1998 be set aside and, in lieu thereof, order that:(i)judgment be entered for the appellants in the sum of $9,998,137.18 together with interest thereon pursuant to s 57 of the Insurance Contracts Act 1984 (Cth) from the date of payment by the appellants of each component of the judgment sum; and(ii)the respondent pay the costs of the appellants at first instance;(d)the orders made by Hodgson CJ in Eq dated 24 April 1998 requiring the repayment by the respondent to the appellants...