Australia, Aug. 21 -- New South Wales Land and Environment Court issued text of the following judgement on July 21:
1. HER HONOUR: This judgment concerns whether pre-judgment interest should be calculated on a simple or compound basis, and whether any special costs order should be made.
Facts
2. The parties executed a Share Sale Agreement which provided for deferred consideration to be paid by the purchaser based on financial performance in the two years' post-completion, that is, an 'earn-out'. The parties agreed on an expert determination procedure in the event that there was a dispute as to the amount of 'earn-out'. Such a dispute arose.
3. In September 2023, the expert determined that the purchaser was obliged to pay the vendor $9,6...